Popular American fast food chain Steak 'n Shake embarked on a revolutionary financial journey six months ago and now the initiative seems to be paying off.
Founded in 1934, Steak 'n Shake is one of the most popular American fast food chains. Popular for its steakburgers and milkshakes, the chain has hundreds of stores in the U.S., France, Italy, Portugal, and Monaco.
Related: Jack Dorsey buys $100 worth of fries, and folks are losing it
On May 16, the 91-year-old chain took a step toward financial independence and began to accept Bitcoin (BTC) payments globally via the Lightning Network.
Twitter (now X) co-founder Jack Dorsey , who himself runs the Bitcoin-focused fintech firm Block, Inc. (NYSE: XYZ), approved of the restaurant chain's Bitcoin initiative. The tech billionaire once even bought fries at Steak 'n Shake with Bitcoin and shared the pictures on social media.
The chain reported saving approximately 50% in processing fees within a fortnight due to customers making payments in BTC instead of credit cards.
Steak 'n Shake didn't stop there and launched a strategic Bitcoin reserve on Oct. 31. The step made it the first major U.S. restaurant chain to launch a Bitcoin reserve.
It also teamed up with the Bitcoin-friendly Fold App to offer customers $5 in free BTC when they register after purchasing their iconic Bitcoin Meal or Bitcoin Steakburger.
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Steak 'n Shake posts 15% hike in same-store sales
On Nov. 17, the legendary chain updated the crypto community on X that its same-store sales have hiked by more than 15%. The rising same-store sales grow the strategic Bitcoin reserve, it added.
"Our bitcoin power law is to improve food quality, to remodel, and to expand."
Steak 'n Shake also informed the community that it is looking to expand into El Salvador , a country that has been accumulating BTC for years now under the leadership of President Nayib Bukele.
This story was originally reported by TheStreet on Nov 18, 2025, where it first appeared in the Retail, Shopping Malls, Chain Stores News & Analysis section. Add TheStreet as a Preferred Source by clicking here.
