Steak ‘n Shake, the popular American fast food chain known for its burgers and shakes, is making a big leap into the world of cryptocurrency.
On May 9, the company announced on social media that it would begin accepting Bitcoin payments at all U.S. locations starting May 16.
This move has sparked a lot of excitement, especially among Bitcoin enthusiasts who have been eagerly awaiting this moment since the chain first hinted at the possibility in March.
Bitcoin Payments Come to Over 100 Million Customers
Steak ‘n Shake’s decision to accept Bitcoin is a major development, as it opens up the cryptocurrency option to a massive audience of over 100 million customers across the country.
Unlike other chains that have only tested the waters with crypto payments at a few locations or in limited trials, Steak ‘n Shake is fully committing to Bitcoin payments nationwide.
From May 16 onwards, customers will be able to use Bitcoin to pay for their meals, whether it’s a burger, fries, or a milkshake.
Jack Dorsey’s Endorsement Fuels the Buzz
The announcement came after months of speculation and excitement, especially when Jack Dorsey, the former CEO of Twitter and a well-known Bitcoin advocate, publicly supported the idea.
When Steak ‘n Shake asked its followers if it should accept Bitcoin, Dorsey responded with a simple yet powerful “yes.”
His endorsement created a lot of buzz, keeping the conversation alive and building anticipation for the official announcement.
A Few Other Chains Have Dabbled in Crypto
Although Steak ‘n Shake is among the few national restaurant chains to fully adopt Bitcoin payments, it’s not entirely alone in this space.
Other chains, like Chipotle, started accepting crypto payments in 2022 through the Flexa network, which supports several cryptocurrencies, including Bitcoin.
Subway has been testing crypto payments since 2013, while McDonald’s offers Bitcoin payments in Lugano, Switzerland.
Even brands like Pizza Hut and Burger King have experimented with Bitcoin payments in countries like El Salvador, where Bitcoin is legal tender.
The Historic Link Between Bitcoin and Fast Food
The connection between Bitcoin and fast food dates back over a decade to 2010, when a Florida man named Laszlo Hanyecz made headlines by paying 10,000 Bitcoin for two pizzas.
At the time, Bitcoin was worth very little, but today, that same 10,000 BTC would be worth hundreds of millions of dollars.
This iconic moment in Bitcoin history is now celebrated every year as Bitcoin Pizza Day.
With Steak ‘n Shake’s move, the chain is giving a modern twist to that historic connection, allowing customers to use the same cryptocurrency to pay for their meals.
The Future of Crypto Payments in Fast Food
Steak ‘n Shake’s announcement also comes at a time when cryptocurrency payments are becoming increasingly easier to use.
In April, a company called Mesh launched an integration with Apple Pay, enabling merchants to accept crypto payments through the popular digital wallet.
As these technologies continue to evolve, it’s likely that more businesses, especially in the fast food industry, will follow Steak ‘n Shake’s lead and start accepting digital currencies.
The move is a sign of the growing influence of cryptocurrencies in everyday transactions, making it more accessible for consumers to use their digital assets in places they may not have expected.
With Bitcoin’s continued rise in popularity, we can expect to see more companies in the food industry embracing cryptocurrency as a payment option.