In a bold move to reshape its financial strategy, Steak ‘n Shake has made headlines by investing $10 million in Bitcoin. This acquisition represents a pivotal step in the iconic fast-food chain’s ongoing initiative to develop a corporate cryptocurrency treasury, a strategy that has been dubbed “Bitcoin-to-Burger.”
The program, which was launched in May 2025, integrates the accumulation of digital assets into the company’s daily operations. By accepting Bitcoin payments and marketing to a cryptocurrency-savvy demographic, Steak ‘n Shake aims to modernize its capital structure and adapt to evolving market trends.
Since the introduction of accepting Bitcoin payments eight months ago, the chain has reported a significant uptick in same-store sales, a development that the company attributes to its innovative payment model. All revenue generated from Bitcoin transactions is funneled into a Strategic Bitcoin Reserve, further solidifying the company’s commitment to this new financial framework. Management claims that this initiative is part of a “self-sustaining system,” where improvements in food quality lead to higher revenue, subsequently redirected into bolstering the corporate Bitcoin reserve.
The results of this strategic pivot have been decidedly favorable. Last year, Steak ‘n Shake achieved a double-digit increase in same-store sales, outperforming its competitors significantly. The company has outlined this achievement, stating, “In 2025, Steak n Shake achieved double-digit same-store sales growth — the best in the industry! Becoming a Bitcoin company gave our business a major boost, allowing us to further improve our food quality.”
Interestingly, the firm is positioning itself as a “Bitcoin-only” establishment. In a recent corporate poll, a majority of staff expressed interest in expanding payment options to include Ethereum (ETH), but leadership decisively turned down the proposal. This rejection underscores a maximalist approach aimed at attracting loyalty from a dedicated segment of the market, driven by ideological alignment with Bitcoin.
Beyond financial transactions, the integration of Bitcoin extends to employee compensation as well. Steak ‘n Shake updated its payroll system last October, enabling its workforce of approximately 10,000 employees to opt for a portion of their wages in Bitcoin. This significant move reflects the company’s view of cryptocurrency as a legitimate and stable store of value, comparable to traditional fiat currencies.
Founded in 1934, Steak ‘n Shake operates numerous locations across the United States and internationally. Its latest financial strategy reinforces its position as a pioneering entity in the realm of traditional dining, striving to adapt a legacy brand to the innovative dynamics of the cryptocurrency space, thereby securing its long-term financial future on the performance of Bitcoin.
