Based on reports, the chain first hinted at a crypto push with an X post on May 9, 2025, saying a crypto option was coming soon. The payment option went live at all its US locations on May 16, 2025, and the company’s Chief Operations Officer, Dan Edwards, told reporters they aim to offer BTC at all locations worldwide.
The messaging has been clear: Steak ‘n Shake wants to be known as a merchant that welcomes BTC payments.
We were honored to be in Bitcoin Country serving Beef Tallow Fries and handing out Grass-Fed and Wagyu Beef Tallow Cooking Oil.
Reports have disclosed that same-store sales rose 11% in the company’s second quarter after the rollout. Later, the chain reported a 15% increase in same-store sales for the third quarter.
One critic, identified as Ron Sovereignty Swanson, wrote, “ETH is just centralized trash. Bitcoin represents freedom. If you do this, you’ll lose all your Bitcoiner customers, including me.”
Later on October 11, the company canceled the poll and posted: “Poll canceled. We stand with Bitcoiners. You have made your choice known. Who even suggested this? I’m back at my desk.”
Based on reports, the reversal shows how vocal customer groups can shape business choices. Steak ‘n Shake’s quick retreat from the Ether idea suggested that it values the support of Bitcoin-focused patrons.
That support appears to have helped the brand within crypto circles, and the chain’s public stance has made it a talking point among Bitcoin fans online.
Featured image from Steak N Shake, chart from TradingView
