Steak ’n Shake announced on Oct. 31 the creation of a Strategic Bitcoin Reserve (SBR) alongside a partnership with Fold Holdings Inc. (Nasdaq: FLD), marking a major milestone in the restaurant industry’s adoption of digital assets. Under the initiative, all bitcoin payments received by the company will be placed in its SBR, and customers purchasing select meals can earn $5 in bitcoin through the Fold app. The announcement underscores how bitcoin is moving from a niche investment into mainstream consumer activity, with major brands now using it to reward and retain customers.

The American fast food chain shared on social media platform X:

Steak n Shake is announcing the creation of a Strategic Bitcoin Reserve. All payments received in bitcoin will be placed in our SBR.

“We are donating 210 sats from every bitcoin meal we sell to Open Sats Initiative Inc. over the next 12 months. Make your Bitcoin Steakburger a delicious bargain when you purchase and register with Fold App — you get $5 in free bitcoin … Thank you, Bitcoiners, for helping change the trajectory of Steak n Shake, with a same-store sales increase of 15% in our most recent quarter — higher than ALL our competitors!” the company added. The post highlights how bitcoin engagement has already fueled measurable performance gains, with same-store sales climbing 15% in the most recent quarter, outpacing competitors.

Fold explained in a separate announcement on Oct. 31 that customers who purchase a Bitcoin burger or Bitcoin meal can upload their receipt online to receive a unique code redeemable for $5 in bitcoin through the Fold app. After downloading the app and activating an account, users can redeem the reward and begin earning bitcoin on future purchases. Each customer may redeem one code, subject to applicable terms and conditions.

“The campaign will roll out nationwide today, October 31st and will run while supplies last. This initiative represents the first in a series of mainstream partnerships Fold plans to announce in the coming months, all designed to make bitcoin simple, rewarding, and part of everyday life,” Fold clarified:

The limited-time offer is available at its approximately 400 Steak ’n Shake locations nationwide, giving guests a delicious way to earn bitcoin.

“This marks the first time a U.S. restaurant chain has bundled meals with bitcoin rewards, a milestone signaling how quickly bitcoin is moving from niche investment to mainstream culture,” Fold noted.

Will Reeves, chairman, CEO and founder of Fold, opined: “ Bitcoin goes mainstream when it starts showing up in everyday life. That’s been our vision from the beginning and our promotion with Steak ’n Shake is the next step in that journey. For many people, this will be the first time they ever own bitcoin, and it will come from something as ordinary as grabbing a burger. That’s what real adoption looks like.” Steak ’n Shake’s crypto integration has advanced steadily through 2025. In May, the company announced that it would begin accepting bitcoin payments at all locations, reaching more than 100 million customers.

• Why did Steak ’n Shake create a Strategic Bitcoin Reserve (SBR)?
  Steak ’n Shake launched its SBR to hold all bitcoin payments it receives, signaling a long-term commitment to digital assets and leveraging bitcoin’s growth potential for financial resilience and innovation.
• How does the partnership with Fold Holdings benefit Steak ’n Shake customers?
  Through Fold’s rewards platform, customers purchasing Bitcoin Meals can earn $5 in bitcoin, making crypto ownership easy and driving brand engagement among a new generation of digital-savvy consumers.
• What business impact has Steak ’n Shake seen from its bitcoin adoption?
  Since integrating bitcoin payments, Steak ’n Shake reported a 15% same-store sales increase—outpacing competitors and demonstrating that crypto engagement can directly boost revenue performance.
• Why is this announcement significant for investors and the restaurant industry?
  As the first U.S. restaurant chain to link meals with bitcoin rewards, Steak ’n Shake sets a precedent for mainstream crypto adoption, signaling growth opportunities in customer retention, digital payments, and blockchain-driven loyalty ecosystems.

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