Steak ‘n Shake will start taking Bitcoin as payment at every one of its outlets on May 16.
The American fast food chain shared the news on its X(Twitter) account on May 9, telling its more than 100 million customers that “the movement is just beginning” before signing off as “Steaktoshi.”
A Social Media Tease
The idea first surfaced in March when Steak ‘n Shake asked on social media, “Should Steak ‘n Shake accept Bitcoin?” The tweet quickly caught fire among crypto fans, including Jack Dorsey, who replied with a simple “yes.”
Testing Bitcoin in Fast Food
Fast food operations run on thin margins and high volumes. Introducing Bitcoin payments will test the cryptocurrency’s speed, cost, and ease of use at real-world scale.
Traditional retailers often mark up prices when accepting crypto. Steak ‘n Shake’s low‑margin model will show if Bitcoin can work smoothly without extra fees or delays.
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A Decade of Crypto Experiments
Many food and drink brands have tried crypto payments over the past ten years. Some efforts never left the pilot stage, while others quietly faded away.
Starbucks let customers reload wallets with Bitcoin via the Bakkt app in 2021, though the system converts BTC into dollars before customers pay. Steak ‘n Shake’s new policy goes further by directly accepting Bitcoin at the point of sale.
Crypto Beyond Fast Food
Steak ‘n Shake’s move follows other recent announcements in the crypto payments world. Cannes, the host of the famous film festival, plans to accept cryptocurrencies citywide this summer with help from Web3 firm Lunu Pay.
Lomond School in the U.K. will start taking Bitcoin for tuition fees this fall, becoming the first school in Britain to do so.
Implications for Bitcoin’s Future
By embracing Bitcoin, Steak ‘n Shake joins a growing list of businesses seeking to make crypto a regular payment option. If customers can buy burgers and shakes with Bitcoin as easily as with cash or a card, it could build confidence in everyday use.
Steak ‘n Shake’s rollout of Bitcoin payments will be closely watched by both the tech and hospitality sectors. Its success could spark new interest in crypto as a daily payment method.
But if problems arise, fast food might become a cautionary tale. Either way, the launch on May 16 promises to be an important moment in the evolving story of digital currencies.
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