According to Cointelegraph, American fast food chain Steak 'n Shake has announced plans to accept Bitcoin as a payment method across all its locations beginning May 16. The announcement was made on May 9 via the company's social media platform X, where it highlighted the availability of cryptocurrency to over 100 million customers, signaling the start of what it called 'the movement.' The message was signed off with the playful moniker 'Steaktoshi.'
The fast food chain had previously teased the idea of accepting Bitcoin in March, sparking interest within the crypto community. A social media post posed the question, 'Should Steak 'n Shake accept Bitcoin?' which garnered attention from notable figures such as Jack Dorsey, who promptly responded affirmatively. Since then, Steak 'n Shake has engaged in Bitcoin-themed marketing efforts, including promotions involving Tesla and visual cues on its social media channels, further building anticipation for this initiative.
The decision to accept Bitcoin marks a significant step in the broader adoption of cryptocurrency within mainstream commerce, as few restaurant chains have transitioned from limited pilot programs to comprehensive payment systems. Cointelegraph attempted to reach Steak 'n Shake for additional information but did not receive an immediate response.
Steak 'n Shake joins a growing list of fast food chains embracing crypto payments. Chipotle has been accepting nearly 100 different cryptocurrencies, including Bitcoin, Ether, and Solana, through Flexa since 2022. Subway was among the earliest adopters, piloting Bitcoin payments at select franchises as early as 2013. KFC launched a 'Bitcoin Bucket' promotion in Canada in 2018, allowing purchases with BTC, while McDonald's accepts Bitcoin in Lugano, Switzerland, as part of a local crypto initiative. Burger King has offered crypto gift cards and direct payments in countries like Germany, the Netherlands, and Venezuela. In September, U.S. President Donald Trump used Bitcoin to purchase burgers at a New York City bar.
Pizza Hut was one of the first major outlets to accept Bitcoin in El Salvador, where the cryptocurrency was declared legal tender in 2021. The historical significance of Bitcoin in the fast food industry dates back to May 22, 2010, when Laszlo Hanyecz made the first-ever Bitcoin transaction to buy two pizzas, paying 10,000 BTC, which was worth $40 at the time. Today, those pizzas would be valued at over a billion dollars, commemorated annually as Bitcoin Pizza Day.