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Restaurant chain Steak ‘n Shake will pay hourly employees an additional $0.21 in Bitcoin for every hour worked, making it one of the first major U.S. fast food brands to compensate workers directly in cryptocurrency.
The Bitcoin bonus, which vests after two years, is part of the 91-year-old company’s broader strategy to position itself as the most aggressive Bitcoin adopter in the industry, executives announced this week.
Announced through a partnership with Fold, the program allows employees to accumulate Bitcoin automatically alongside their regular wages.
CEO Will Reeves framed the policy as “putting sound money into the hands of working Americans,” further embedding Steak ‘n Shake bitcoin payment principles into the company’s culture.
According to Adam Simecka, founder of the self custody wallet Manna, a full time minimum wage worker logging 40 hours per week over 30 years could potentially retire with more than $3 million if Bitcoin were to average 20% annual growth.
Under that scenario, an employee could start at 16 and retire at 46 without raises or additional investments beyond the hourly Steak ‘n Shake bitcoin payment bonus.
The employee bonus builds on Steak ‘n Shake’s previously announced $10 million Bitcoin treasury purchase on January 18, when the company acquired approximately 105 BTC.
This marked its first direct allocation since accepting Bitcoin payments in May 2025 and strengthened the foundation of its Steak ‘n Shake bitcoin payment framework.
The company also formalized a Strategic Bitcoin Reserve that directs all customer Bitcoin payments straight into treasury holdings rather than converting them to cash.
Executives say this creates a self reinforcing loop in which same store sales growth supports long term Bitcoin accumulation tying operational performance directly to the Steak ‘n Shake bitcoin payment model.
After enabling Lightning Network payments across all U.S. locations in mid May, the chain reported nearly 50% savings in transaction fees compared with credit cards, alongside a roughly 15% rise in same store sales in the following months.
The rollout received public backing from Jack Dorsey who praised the company’s Bitcoin first direction.
Financial results followed. Steak ‘n Shake posted $69.3 million in Q2 2025 revenue up 12% year over year with executives crediting Bitcoin users for a 10.7% quarter over quarter lift in same store performance.
Growth accelerated further in Q3, with same store sales up 15%, outperforming rivals such as McDonald’s, Burger King, Taco Bell, and Starbucks one of the strongest runs in the fast food sector and a clear validation of the Steak ‘n Shake bitcoin payment approach.
Through its partnership with Fold Holdings launched on October 31, the company offered customers $5 worth of Bitcoin for purchasing branded items like the “Bitcoin Burger,” redeemable via the Fold app.
The promotion further normalized Steak ‘n Shake bitcoin payment usage by linking it to routine dining experiences.
Steak ‘n Shake also pledged to donate 210 satoshis for every “Bitcoin Meal” sold to OpenSats, supporting Bitcoin Core and broader open source development.
The limited ime campaign across roughly 400 U.S. locations introduced first time Bitcoin ownership to everyday consumers through simple transactions like buying a burger.
“Bitcoin becomes mainstream once it’s woven into everyday life.”
Reeves said, emphasizing how Steak ‘n Shake bitcoin payment adoption lowers the barrier to entry for new users.
Steak ‘n Shake is owned by Biglari Holdings, a company led by investor and CEO Sardar Biglari. While the parent company has not disclosed whether Bitcoin will play a role in its broader balance sheet strategy, the restaurant chain continues to deepen its commitment.
In November, Steak ‘n Shake expanded into El Salvador after participating in the Bitcoin Histórico event in San Salvador. The move into the world’s first Bitcoin legal tender nation underscored the brand’s global ambitions and reinforced its Steak ‘n Shake bitcoin payment identity.
The company briefly faced backlash in October after polling followers about accepting Ether payments.
Although 53% of nearly 49,000 respondents favored the idea, the poll was abruptly suspended just hours later,the company posted, reaffirming its Bitcoin only stance after vocal opposition from prominent advocates including Simecka.
The announcement arrives amid heightened crypto market volatility. Bitcoin recently slid 4% to around $88,000 during a sharp leverage unwind with data from CoinGlass showing more than $1 billion in liquidations over 24 hours.
Despite short term turbulence, Steak ‘n Shake continues to press forward, positioning Steak ‘n Shake bitcoin payment adoption as a long term operational and cultural shift rather than a speculative bet.
