Steak 'n Shake, a quick food restaurant chain that accepts Bitcoin (BTC) payments in its stores, announced on Friday that its BTC treasury increased by $10 million in notional value.
“All Bitcoin sales flow into our strategic Bitcoin reserve,” the corporate said, adding that the adoption of BTC as a treasury asset resulted in a flywheel effect that increased same-store sales, which in turn increased the corporate’s BTC supply.
In May 2025, the corporate announced that it might accept BTC as payment in any respect of its locations worldwide in a phased rollout.
Source: Steak 'n Shake
The Bitcoin community celebrated the announcement, with many sharing their Steak 'n Shake receipts paying in BTC, and in November 2025, the corporate announced its expansion to El Salvador, a rustic known for its pro-Bitcoin policies.
Cointelegraph reached out to Steak 'n Shake but didn’t receive a response on the time of publication.
The company's decision to just accept BTC for payments demonstrates the increasing adoption of Bitcoin payments by businesses and strengthens the usage of Bitcoin as a medium of exchange and not only as a store of value or speculative financial instrument.
Steak 'n Shake Increases Same-Store Sales and Bitcoin Holdings in 2025
Steak 'n Shake's same-store sales increased 11% sequentially within the second quarter of 2025, driven by Bitcoin adoption.
According to Steak 'n Shake, same-store sales rose 15% within the third quarter of 2025, outperforming industry rivals resembling McDonald's, Domino's and Taco Bell.
The company's decision to adopt Bitcoin followed the closure of 230 of its stores between 2018 and 2025. The variety of Steak 'n Shake locations within the U.S. peaked at 628 in 2018, but declined to 394 by 2026, in line with data from ScrapeHero.
More firms should adopt BTC as a financial buffer, said Bitcoin investor and financial accountant Rajat Soni in response to Steak 'n Shake.
“If they try this, it should be much easier for them to succeed because their Bitcoin is sort of a backstop. I believe most firms fail because they aren't out there long enough. Bitcoin extends your financial endurance,” he added.
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