Steak ’n Shake says its Bitcoin holdings rose by $10 million

Steak ’n Shake, the fast-food chain that accepts Bitcoin (BTC) payments at its stores, said on Friday that its corporate BTC treasury grew by $10 million in notional value. “All Bitcoin sales go into our strategic Bitcoin reserve,” the company said, adding that adopting BTC as a treasury asset has produced a “flywheel effect” that it says increases same-store sales and thereby grows its BTC stash.

In May 2025 Steak ’n Shake announced a phased rollout to accept BTC at all locations worldwide. The company said quarter-over-quarter same-store sales rose 11% in Q2 2025 and 15% in Q3 2025, which it attributed to its adoption of Bitcoin; it said the Q3 rise outpaced competitors including McDonalds, Domino's and Taco Bell.

The outlet also reported that the company expanded into El Salvador in November 2025 and that its footprint shrank after 230 store closures between 2018 and 2025, with U.S. locations falling from a 2018 peak of 628 to 394 by 2026, according to ScrapeHero. Bitcoin investor Rajat Soni told Cointelegraph that more companies should adopt BTC as a financial buffer, saying, "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.

Key Topics

Crypto, Steak N Shake, Bitcoin, El Salvador, Rajat Soni, Same-store Sales