Steak ’n Shake, the 91-year-old American burger chain, has taken its first public step into company Bitcoin possession, asserting a $10 million buy of the cryptocurrency for its treasury.
Key Takeaways:
- Steak ’n Shake made its first $10M Bitcoin treasury buy after adopting crypto funds.
- All customer-paid Bitcoin now flows right into a Strategic Bitcoin Reserve tied to gross sales development.
- The transfer displays a consumer-driven Bitcoin technique, not a balance-sheet accumulation play.
The acquisition, equal to roughly 105 BTC at present market costs, marks the corporate’s first disclosed direct allocation because it started accepting crypto funds in Could 2025.
Steak ’n Shake Formalizes Strategic Bitcoin Reserve Tied to Gross sales Development
The transfer formalizes what the restaurant chain calls a “Strategic Bitcoin Reserve,” a system that channels all Bitcoin acquired from clients straight into its treasury quite than changing it into money.
In a submit on X, Steak ‘n Shake stated the strategy ties rising same-store gross sales to long-term reserve development, creating what it described as a self-sustaining mannequin.
Steak ’n Shake enabled Lightning Community funds throughout all US places in mid-Could, a rollout publicly backed by Jack Dorsey.
The corporate reported transaction charge financial savings of almost 50% in contrast with bank cards, alongside a roughly 15% improve in same-store gross sales within the months following the launch.
The treasury technique was formalized on Oct. 31 by means of a partnership with Fold Holdings, which provided clients $5 value of Bitcoin when buying branded menu gadgets such because the “Bitcoin Burger.”
As a part of the rollout, Steak ‘n Shake will donate 210 satoshis for each “Bitcoin Meal” offered, with funds directed to OpenSats to help Bitcoin Core and open-source improvement.
The promotion tied shopper incentives on to crypto adoption quite than speculative funding.
Eight months in the past right this moment, Steak n Shake launched its burger-to-Bitcoin transformation after we began accepting bitcoin funds. Our same-store gross sales have risen dramatically ever since.
All Bitcoin gross sales go into our Strategic Bitcoin Reserve.
As we speak we elevated our Bitcoin…— Steak 'n Shake (@SteaknShake) January 17, 2026
Steak ’n Shake is owned by Biglari Holdings, led by Sardar Biglari. The dad or mum firm has not stated whether or not Bitcoin will play a task in its broader balance-sheet technique.
The restaurant’s strategy stands other than capital-market-driven performs popularized by companies similar to Technique, which elevate funds to build up Bitcoin.
Whereas greater than 200 firms now maintain Bitcoin, Steak ’n Shake’s $10 million place stays small, signaling a cautious however notable entry from a legacy shopper model.
Steak ’n Shake Expands to El Salvador
In November final 12 months, Steak ‘n Shake revealed that it’s increasing into El Salvador, marking a symbolic transfer into the world’s first nation to undertake Bitcoin as authorized tender.
The announcement adopted the chain’s participation within the Bitcoin Histórico occasion in San Salvador, the place the corporate signaled deeper engagement with the nation’s crypto-centered economic system.
The corporate briefly confronted backlash in October after floating the thought of accepting Ether funds, prompting sharp criticism from Bitcoin-focused clients.
Steak ’n Shake shortly reversed course and reaffirmed its dedication to Bitcoin, a stance that appeared to resonate with its core viewers as gross sales momentum continued into the second half of the 12 months.
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