Steak ‘n Shake reported on Friday that its corporate Bitcoin treasury grew by $10 million in notional value. (According to said.)
The firm said it accepts Bitcoin at stores worldwide and channels proceeds into a reserve, adding “All Bitcoin sales go into our strategic Bitcoin reserve,” (see said).
Steak ‘n Shake first announced a phased rollout of Bitcoin payments in May 2025, expanding acceptance across locations. See the company statement announced.
The Bitcoin community responded by posting payment receipts and praise online. Community reactions appeared on social media, for example celebrated and users sharing receipts.
Same-store sales rose after adoption, with a quarter-over-quarter increase of 11% in Q2 2025 and 15% in Q3 2025. The company linked the Q2 gain to Bitcoin adoption (attributed) and posted the Q3 result (increased), outperforming peers like McDonalds, Domino’s, and Taco Bell.
The chain closed about 230 stores from 2018 to 2025, falling from 628 U.S. locations at its peak to 394 by 2026, per data from ScrapeHero.
Bitcoin investor and accountant Rajat Soni urged other firms to hold BTC as a financial buffer, stating “If they do this, they will find it much easier to succeed because their Bitcoin is like a backstop. I think most businesses fail because they aren’t in the market long enough. Bitcoin extends your financial endurance,” (see said).
