Bitcoin News Today: Bitcoin on the Menu: Steak 'n Shake Rewards Customers with Crypto

Steak 'n Shake, the iconic U.S. fast-food chain, has taken a bold step into the cryptocurrency arena by establishing a Bitcoin strategic reserve and launching a consumer rewards program tied to digital asset purchases. The company announced on October 31, 2025, that all Bitcoin payments received by its locations will be allocated directly to a corporate reserve, marking one of the first major fast-food companies in the U.S. to adopt such a strategy, according to a Yahoo Finance report. This move builds on Steak 'n Shake's earlier decision to accept Bitcoin payments via the Lightning Network in May 2025, which it credited with reducing payment processing costs by 50%, according to the report.

The new initiative is paired with a limited-time promotion in collaboration with Phoenix-based Bitcoin financial services firm Fold Holdings (NASDAQ: FLD), Invezz reported. Customers who purchase a specially branded "Bitcoin Burger" or "Bitcoin Meal" at approximately 400 locations can redeem a $5 Bitcoin reward through the Fold app. To claim the reward, participants must upload their receipt to a dedicated website and input a unique code. The campaign, described as the first instance of a U.S. restaurant chain linking meal purchases to direct Bitcoin rewards, aims to onboard crypto newcomers by integrating digital assets into everyday transactions, Crypto.News reported.

"Bitcoin goes mainstream when it starts showing up in everyday life," said Will Reeves, Fold's chairman and CEO, emphasizing the campaign's role in broadening adoption, as reported by The Block. Steak 'n Shake's CEO, Sardar Biglari, added that the chain's commitment to Bitcoin reflects its vision to "be a part of the future of culture and commerce," according to Investor Empires. The company also pledged to donate 210 satoshis (a fraction of a Bitcoin) from every Bitcoin meal sold over the next 12 months to the OpenSats Initiative, a nonprofit supporting open-source Bitcoin projects, KuCoin reported.

The strategic reserve initiative aligns with a broader trend of institutional and corporate Bitcoin adoption. Companies like MicroStrategy and Hyperscale Data have previously built substantial Bitcoin holdings, with the latter recently reporting a $68.8 million Bitcoin treasury representing 50% of its market capitalization, Investing.com reported. Steak 'n Shake's move signals confidence in Bitcoin's long-term value, positioning the asset as both a store of value and a tool for customer engagement, according to a CryptoRank analysis.

Market conditions for Bitcoin have also improved recently, with the cryptocurrency trading near $114,600 as of October 28, 2025, following a volatile month driven by trade tensions and Federal Reserve policy expectations, per an Investing.com analysis. ETF inflows have surged, with U.S. spot Bitcoin ETFs attracting $3.5 billion in new capital this month alone. BlackRock's iShares Bitcoin Trust (IBIT) dominates this inflow, holding $92.66 billion in net assets—60% of the total for all U.S. BTC ETFs, according to reporting from The Block.

Analysts suggest that Steak 'n Shake's strategy could inspire wider adoption of Bitcoin in retail and food service sectors. By treating Bitcoin as a strategic reserve asset and rewarding customers with direct crypto incentives, the company is testing a model that blends financial innovation with consumer accessibility, BitcoinWorld reported. However, challenges remain, including Bitcoin's price volatility and evolving regulatory frameworks for crypto assets, as noted in the CryptoRank analysis.

For now, Steak 'n Shake's campaign underscores the growing mainstream acceptance of Bitcoin, transforming it from a niche investment into a tangible part of daily commerce. As Reeves noted, "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." The Block reported on Reeves' comments.