One of the oldest burger joints in the United States is making big strides into crypto adoption.
91-year-old Steak ‘n Shake began accepting Bitcoin (BTC) payments for burgers globally in May 2025.
Now in 2026, its Bitcoin Treasury scooped up $10 million worth of Bitcoin to its balance sheet.
Related: Trump’s crypto burger stunt draws increased attention to bitcoin
Steak ‘n Shake wrote on X on Jan 17:
In a post shared on X (formerly Twitter), Steak ‘n Shake announced the latest Bitcoin purchase and highlighted its sales improvement due to Bitcoin.
“Today we increased our Bitcoin exposure by $10,000,000 in notional value. We have created a self-sustaining system — growing same-store sales that grow the SBR [Strategic Bitcoin Reserve]. “
At the time of reporting, Bitcoin was trading at $95,338.36, as per CoinGecko.
Steak ‘n Shake began accepting BTC payments globally in May 2025 through the Lightning Network, an initiative championed by Bitcoin advocate and Block co-founder Jack Dorsey.
Within two weeks, the company reported saving nearly 50% in transaction fees compared with credit card processing.
By Oct. 31, Steak ‘n Shake became the first major U.S. restaurant chain to launch a dedicated Bitcoin reserve, claiming a 15% increase in same-store sales driven largely by crypto-friendly customers.
Steak ‘n Shake has hundreds of stores in the U.S., France, Italy, Portugal, and Monaco.
The chain claimed the pivot helped it save approximately 50% in processing fees within a fortnight due to customers making payments in BTC instead of credit cards.
Five months after adopting Bitcoin payments, Steak ‘n Shake unveiled in October a limited-edition Bitcoin Steakburger.
As part of its ongoing expansion into the Bitcoin economy, Steak ‘n Shake has also rolled out a rewards program in partnership with Bitcoin financial services firm Fold Holdings, Inc.
Customers who order their Bitcoin Steakburger or Bitcoin Meal can earn $5 in BTC via the Fold App, which allows users to spend and save Bitcoin through a Visa-powered debit card.
The promotion, active at roughly 400 U.S. locations, invites diners to upload their receipts at bitcoinmealdeal.com and redeem their BTC rewards through the app. Each user is limited to one redemption per promotion while supplies last.
Related: Popular burger chain claims saving 50% in payment processing fees
This story was originally published by TheStreet on Jan 17, 2026, where it first appeared in the Business News section. Add TheStreet as a Preferred Source by clicking here.
