Bitcoin News Today: Bitcoin Maximalism Prevails as Steak 'n Shake Abandons Ethereum Expansion

Steak 'n Shake's brief foray into accepting Ethereum (ETH) payments has been swiftly reversed after intense backlash from Bitcoin supporters, underscoring the deep tribalism within the cryptocurrency community. The fast-food chain launched a public poll on X (formerly Twitter) asking its 468,800 followers whether it should expand its crypto payment options beyond Bitcoin. The poll, which garnered 48,815 votes with 53% in favor of ETH acceptance, was suspended roughly four hours later. In a follow-up post, Steak 'n Shake declared, "Poll suspended. Our allegiance is with Bitcoiners. You have spoken,".

The decision to abandon the ETH initiative followed sharp criticism from prominent Bitcoin advocates. Adam Simecka, creator of the Bitcoin self-custody wallet Manna, vowed to stop patronizing the chain if it accepted ETH, while "The Bitcoin Gal" called the poll "disappointing." The backlash reflects a broader sentiment among Bitcoin maximalists, who view Bitcoin as the only legitimate form of digital money. Michael Saylor, CEO of MicroStrategy, has long argued that "there is no second-best crypto asset-there's a crypto asset and it's called Bitcoin."

Steak 'n Shake's commitment to Bitcoin has been a key driver of its recent success. The chain began accepting Bitcoin payments in May 2025 across U.S., European, and Middle Eastern locations, citing a 15% year-on-year rise in same-store sales in Q3, partially attributed to Bitcoin adopters. The company also reported a 10.7% same-store sales increase in Q2, with Chief Operating Officer Dan Edwards noting that Bitcoin payments cut processing fees by 50%, benefiting both customers and the business.

The ETH poll reversal has drawn praise from Ethereum co-founder Vitalik Buterin, who defended the chain's decision to prioritize community sentiment. In a post, Buterin emphasized the importance of businesses aligning with their "tribe" rather than chasing broad appeal, stating, "We need the stubborn ones who believe in their cause and their tribe and see their work as a labor of love to it." His comments highlight the ideological divide between Bitcoin's focus on digital cash and Ethereum's broader smart contract ecosystem.

The incident also illustrates the growing influence of crypto communities on corporate decisions. Steak 'n Shake's social media post suspending the poll was signed by "Steaktoshi," widely believed to be CEO Sardar Biglari's pseudonym. The chain's alignment with Bitcoin maximalists has reinforced its brand identity among crypto enthusiasts, even as it navigates the complexities of crypto adoption.

Looking ahead, Steak 'n Shake plans to deepen its Bitcoin integration, including the launch of a "Bitcoin Steakburger" on October 16. Meanwhile, the episode serves as a case study in how businesses must weigh technological options against the preferences of their most vocal customer bases. As the crypto landscape evolves, the tension between Bitcoin's dominance and the rise of alternative use cases will likely continue to shape merchant strategies.

Source: [1] Steak 'n Shake May Abandon Ether Payment Plans After Pushback ... (https://en.coinotag.com/steak-n-shake-may-abandon-ether-payment-plans-after-pushback-from-bitcoin-community/)

[2] Steak Shake Simped Shitcoin (https://www.duck9.com/blog/steak-shake-simped-shitcoin/)

[10] Steak 'n Shake quickly U-turns as Ether poll angers Bitcoiners (https://www.tradingview.com/news/cointelegraph:d88938809094b:0-steak-n-shake-quickly-u-turns-as-ether-poll-angers-bitcoiners/)

[7] Steak 'n Shake Credits Bitcoin for 11% Q2 Sales Surge (https://bitbo.io/news/steak-n-shake-bitcoin-sales/)