What happened?
Steak ‘n Shake launched a Bitcoin treasury and will stash all BTC payments it receives from restaurant sales into that reserve. For every “Bitcoin Meal” sold the chain will donate 210 sats to OpenSats and is running a promotion with Fold that gives customers $5 in BTC. The company also pulled back from plans to accept Ether after a public backlash and says Bitcoin acceptance has driven notable same-store sales gains and lower processing costs.
Who does this affect?
Customers who pay with Bitcoin stand to get rewards and easier access to BTC through everyday purchases at hundreds of locations. Bitcoin devs and open-source projects benefit from the 210 sats per meal donations to OpenSats, while the broader Bitcoin community gets a high-profile win for real-world adoption. Other retailers, payment processors, and investors are watching too, since the move changes how merchants can cut fees and treat crypto receipts on their balance sheets.
Why does this matter?
This is a clear signal that Bitcoin is moving from niche payments to mainstream retail use, which can normalize crypto in everyday transactions. By slashing processing fees and converting payments into a treasury asset, Steak ‘n Shake is showing a replicable model that other chains might copy, potentially reducing costs across the industry. If more merchants follow, it could lift real-world demand for Bitcoin, shift corporate treasury strategies, and influence investor sentiment about crypto as a utility and store of value.