Steak ‘n Shake Embraces Bitcoin for Payments
The fast-food world is getting a taste of Bitcoin. Steak ‘n Shake, the iconic American burger chain, has announced it will begin accepting Bitcoin as payment at all of its locations starting on May 16th. This marks a significant move towards mainstream cryptocurrency adoption in the US, particularly within the fast-food sector.
The company, known for its signature milkshakes and juicy burgers, broke the news on X (formerly Twitter) on May 9th, stating it was making Bitcoin available to its over 100 million customers. The announcement was met with enthusiasm from the crypto community and Bitcoin proponents, many celebrating this latest step towards mainstream adoption.
A Growing Trend: Crypto Payments in Fast Food
Steak ‘n Shake isn’t alone in its embrace of crypto payments. Several other fast-food chains have already adopted Bitcoin and other cryptocurrencies, indicating a growing trend in the industry.
- Chipotle, the popular Mexican grill, has been accepting nearly 100 different cryptocurrencies, including Bitcoin, Ethereum, and Solana, via Flexa since 2022.
- Subway, one of the first to explore crypto payments, piloted Bitcoin transactions at select franchises as far back as 2013.
- KFC offered a “Bitcoin Bucket” promotion in Canada back in 2018, allowing purchases with BTC.
- McDonald’s accepts Bitcoin in Lugano, Switzerland, as part of a local crypto initiative.
- Burger King has accepted crypto gift cards and direct crypto payments in select countries like Germany, the Netherlands, and Venezuela.
- Pizza Hut became one of the first mainstream outlets to accept BTC in El Salvador, where it was made legal tender in 2021.
The first-ever Bitcoin transaction was made to buy fast food by Laszlo Hanyecz on May 22, 2010, a historic moment now fondly referred to as “Bitcoin Pizza Day.” He paid 10,000 BTC for two pizzas, which at the time was worth $40. Today, those pizzas would be worth more than a billion dollars.
The Future of Crypto Payments in Fast Food
The acceptance of Bitcoin by major fast-food chains like Steak ‘n Shake raises interesting questions about the future of crypto payments in the industry. Will we see more widespread adoption, and what impact will it have on customer spending habits and the adoption of cryptocurrencies as a whole?
Only time will tell, but one thing is certain: the fast-food industry is becoming increasingly open to the world of cryptocurrency.
