Bitcoin News Today: Steak 'n Shake's Crypto Choice: Bitcoin's Ideology Trumps Ethereum's Pragmatism

Steak 'n Shake, the 90-year-old fast-food chain, has abandoned plans to accept Ethereum (ETH) payments after facing fierce criticism from Bitcoin maximalists. The decision to pause an in-house poll supporting ETH adoption reflects the growing ideological divide in the cryptocurrency community and underscores the influence of Bitcoin-first advocates. Vitalik Buterin, co-founder of Ethereum, publicly endorsed the move, emphasizing the importance of principled alignment over broad customer appealVitalik Buterin Confirms Support for Steak ’n Shake’s ETH Payment …^[6].

The controversy began when Steak 'n Shake, which has accepted Bitcoin (BTC) payments since May 2025, launched a social media poll on X (formerly Twitter) asking its 468,800 followers whether to expand crypto options to include ETH. Nearly 49,000 votes were cast, with 53% in favor. However, the poll was suspended within hours after backlash from Bitcoin supporters, who argued that ETH's higher fees and slower transaction speeds made it inferior to Bitcoin's Lightning NetworkSteak ‘n Shake Stops ETH Payments After Bitcoin Backlash^[10]. The chain swiftly reaffirmed its commitment to Bitcoiners, stating, "Poll suspended. Our allegiance is with Bitcoiners. You have spoken."Steak ‘n Shake Dumps Ethereum Payments Plan After Pushback …^[11]

Bitcoin maximalists, including figures like Adam Simecka, creator of the Manna self-custody wallet, warned that accepting ETH would alienate loyal customers. "If you accept ETH, I will never eat at your restaurant again," Simecka tweetedSteak ‘n Shake Stops ETH Payments After Bitcoin Backlash^[10]. The backlash mirrored similar debates in 2021 when Tesla reversed its Bitcoin payment policy over environmental concerns. By prioritizing Bitcoin, Steak 'n Shake has reinforced its position as a crypto-forward brand with a clear ideological stanceBitcoin Community Pushes Back – Vitalik Supports Steak ’n Shake …^[8].

Ethereum's co-founder, Vitalik Buterin, defended the decision, stating that businesses should "not try to appeal to as many customers as possible under the guise of 'not being maximalist'"Vitalik Buterin “Respects” Steak ‘n Shake’s Decision Not to Adopt …^[7]. He highlighted the need for organizations to "believe in their cause and their tribe," aligning with Steak 'n Shake's strategy to cultivate loyalty among Bitcoin supportersVitalik Buterin Supports Steak'n Shake's ETH Vote Pause - Phemex^[9]. Buterin's comments reflect Ethereum's broader philosophical emphasis on decentralized communities, even as the network continues to face practical challenges like scalability and transaction costsVitalik Buterin Confirms Support for Steak ’n Shake’s ETH Payment …^[6].

The business case for Bitcoin at Steak 'n Shake appears strong. Since integrating BTC payments across U.S., French, Monaco, and Spanish locations, the chain reported a 15% year-over-year increase in same-store sales, partly attributed to crypto usersSteak ’n Shake Sales Soar with Bitcoin Payment^[12]. The Lightning Network enables sub-second transactions with fees in fractions of a cent, outpacing Ethereum's average $3–$10 fees and 15–30 TPS throughputBitcoin Community Pushes Back – Vitalik Supports Steak ’n Shake …^[8]. By locking in prices at the time of sale, the company mitigates volatility risks while offering customers a seamless payment experienceSteak ’n Shake Sales Soar with Bitcoin Payment^[12].

To further cement its Bitcoin identity, Steak 'n Shake announced a "Bitcoin Steakburger" launching October 16, alongside a franchise model allowing Bitcoin payments for new locationsSteak ‘n Shake Dumps Ethereum Payments Plan After Pushback …^[11]. The move aligns with CEO Dan Edwards' vision of leveraging crypto to reduce processing fees-reportedly saving the company 50% on costs-and attracting a tech-savvy customer baseSteak ‘n Shake Stops ETH Payments After Bitcoin Backlash^[10]. Meanwhile, competitors like Starbucks and Chipotle have tested crypto payments without committing to long-term integrationsSteak ‘n Shake Dumps Ethereum Payments Plan After Pushback …^[11].

The episode highlights the tension between technological pragmatism and ideological purity in crypto adoption. While Ethereum's Buterin advocates for principled business decisions, Bitcoin maximalists continue to push for BTC as the sole standard for digital payments. As the ecosystem evolves, Steak 'n Shake's choice to double down on Bitcoin may set a precedent for other retailers navigating the complexities of crypto integrationBitcoin Community Pushes Back – Vitalik Supports Steak ’n Shake …^[8].