TL;DR
- Steak ‘n Shake and Fold launched a campaign across 400 U.S. locations offering $5 in Bitcoin for every meal purchase.
- The chain created a crypto reserve to store BTC payments and will donate 210 sats from each meal sold to OpenSats.
- Fold plans new partnerships and will launch a credit card that rewards users with BTC on everyday purchases.
Steak ‘n Shake partnered with Fold to launch a promotion that gives customers Bitcoin rewards for meal purchases at 400 restaurants across the United States.
Customers who buy a Bitcoin Meal or a Bitcoin Steakburger can earn $5 in BTC by uploading their receipts to bitcoinmealdeal.com and redeeming the code through the Fold app. The initiative aims to integrate Bitcoin into everyday spending and coincides with the creation of a strategic BTC reserve within the chain’s treasury.
Fold is a Bitcoin-focused financial services company. Its CEO, Will Reeves, said this is the first of several collaborations with major consumer brands designed to show how Bitcoin can fit naturally into daily spending. Fold already offers BTC rewards through its debit card and will soon launch a credit card with the same rewards model. The company trades on Nasdaq under the ticker FLD, with its stock currently priced at $3.59.
Steak ‘n Shake: Bitcoin as a New Path for the Restaurant Chain
Steak ‘n Shake complements the campaign with the creation of a Strategic Bitcoin Reserve. All BTC payments received for themed meals and milkshakes will be stored within this reserve, turning part of its commercial flow into a corporate digital asset. The company will also donate 210 sats (about $0.23) from every Bitcoin Meal sold to OpenSats, a nonprofit that funds open-source Bitcoin projects.
The chain began accepting Bitcoin payments earlier this year and attributes part of its year-over-year sales growth to the interest of the crypto community. To celebrate five months of adoption, it introduced the BTC Steakburger, featuring the Bitcoin logo stamped on the bun. Although Steak ‘n Shake considered adding Ethereum payments, it dropped the plan after receiving criticism from customers who favored its Bitcoin-only approach.
Steak ‘n Shake has become one of the first fast-food brands to integrate Bitcoin into both its operational and financial structure
