Bitcoin News Today: Crypto Tribes Clash as Steak 'n Shake Sticks with Bitcoin

Steak 'n Shake has abruptly reversed its decision to consider accepting Ethereum (ETH) payments after facing intense backlash from Bitcoin maximalists, underscoring the deep tribalism that continues to define the cryptocurrency community. The fast-food chain had 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 received 48,815 votes with 53% in favor of ETH adoption, was suspended within four hours. The company cited its "allegiance to Bitcoiners" in its response, stating, "You have spoken".

The move follows Steak 'n Shake's successful integration of Bitcoin (BTC) payments in May 2025, which the company credits for a 15% year-on-year increase in same-store sales during the third quarter. By prioritizing Bitcoin, the chain has positioned itself as a key player in the crypto-friendly retail sector. However, the brief consideration of ETH sparked fierce criticism from prominent Bitcoin advocates, including Adam Simecka, creator of the Bitcoin self-custody wallet Manna, who vowed to stop patronizing the chain if it accepted ETH. Others, like "The Bitcoin Gal" on X, called the poll "disappointing," arguing that the gesture undermined the brand's commitment to Bitcoiners.

Ethereum co-founder Vitalik Buterin, however, praised Steak 'n Shake's decision to suspend the poll. In a post on X, Buterin argued that businesses should not prioritize broad market appeal over ideological alignment, 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 remarks resonated with many in the Ethereum community, who viewed the poll suspension as a principled stand against diluting the chain's Bitcoin-first identity.

The incident highlights the ongoing tension between Bitcoin maximalists and proponents of alternative cryptocurrencies. Bitcoin's ardent supporters often dismiss other digital assets as inferior, a sentiment echoed by figures like MicroStrategy's Michael Saylor, who has long maintained that "there is no second-best crypto asset". For businesses like Steak 'n Shake, navigating this polarized landscape requires balancing innovation with the expectations of core customer bases.

The backlash also reflects broader challenges in crypto adoption. While Bitcoin's Lightning Network has enabled seamless, low-cost transactions for the chain, Ethereum's higher fees and slower settlement times remain barriers for everyday use. Critics argue that accepting ETH could alienate Bitcoin users who view the move as a betrayal of the chain's foundational principles. Meanwhile, Buterin's defense of the decision underscores a growing debate over whether businesses should align with specific crypto "tribes" or pursue broader financial inclusivity.

As the crypto market rebounds, with a total capitalization surpassing $4 trillion, such decisions will likely grow more consequential. Steak 'n Shake's pivot reinforces the idea that consumer sentiment can swiftly shape corporate strategy in the crypto space. For now, the chain has reaffirmed its Bitcoin-only stance, but the episode serves as a reminder of the volatile interplay between brand identity, community loyalty, and the evolving crypto ecosystem.

Source: [1] Steak 'N Shake U-Turns on ETH Payment Idea - Cointelegraph (https://cointelegraph.com/news/steak-n-shake-u-turns-eth-payments)

[2] 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/)

[4] Vitalik Buterin "Respects" Steak 'n Shake's Decision Not to Adopt ... (https://coinedition.com/vitalik-buterin-respects-steak-n-shakes-decision-not-to-adopt-eth-for-payments/)

[10] Vitalik Buterin Confirms Support for Steak 'n Shake's ETH Payment ... (https://coinfomania.com/vitalik-buterin-supports-steak-n-shake-eth-payment-pause/)

[11] Vitalik Buterin Supports Steak'n Shake's ETH Vote Pause - Phemex (https://phemex.com/news/article/vitalik-buterin-supports-steakn-shakes-decision-to-pause-eth-payment-vote-25891)