What happened?
Steak ‘n Shake dropped plans to accept Ether after a backlash from Bitcoin supporters. They suspended an X poll and publicly said their allegiance is with Bitcoiners. The chain had already reported a 15% bump in same-store sales since adding Bitcoin, which likely influenced the move.
Who does this affect?
This affects Steak ‘n Shake customers and the wider crypto communities—especially Bitcoin and Ethereum supporters. It also matters to merchants and payment providers watching whether businesses accept one crypto or many. Influencers and vocal Bitcoin loyalists showed they can sway corporate decisions through social pressure and brand loyalty.
Why does this matter?
This matters for the crypto payments market because merchant choices shape which digital assets get real-world utility and transaction volume. If more businesses follow Steak ‘n Shake’s lead and favor one crypto, that could concentrate payment flows into Bitcoin and slow broader token acceptance. At the same time, big payments players like Mesh and Stripe pushing crypto rails and stablecoins mean the space will keep evolving, so market winners will be those who secure strong merchant and user ecosystems.