Steak 'n Shake to Accept Bitcoin Payments at All US Locations Starting May 16

Steak 'n Shake will begin accepting Bitcoin as payment at all its US locations starting May 16, the company announced Thursday, marking one of the largest fast food Bitcoin integrations to date.

Steak 'n Shake is heating things up in the kitchen with its latest announcement: the restaurant chain will begin accepting Bitcoin at all of its U.S. locations starting May 16.

Steak n Shake accepting Bitcoin payments at all locations starting May 16, making the cryptocurrency available to our more than 100 million customers. The movement is just beginning….— Steaktoshi (@steakhousebtc) May 12, 2023

The news comes following a wave of cryptic posts earlier this year, including one that asked, "Should Steak 'n Shake accept Bitcoin?" and a viral image of a Bitcoin-branded spaceship, which ignited speculation among Bitcoiners. Now, it's confirmed: Steak 'n Shake isn't just memeing – it's committed to adopting Bitcoin.

This rollout will bring Bitcoin payments to over 500 restaurants nationwide, putting BTC into real world use for high frequency, low cost food purchases, which is a key milestone for crypto currency. Unlike previous food industry pilots limited to test markets, Steak 'n Shake is going all-in from day one.

The fast food brand has been building anticipation since March, gradually layering in Bitcoin imagery across its marketing, which sparked conversations on social media and drew support from prominent Bitcoin advocates. Jack Dorsey, for example, responded to the initial "Should Steak n Shake accept Bitcoin?" tweet with a simple: "yes."

It is currently unclear how the fast food chain will be implementing this mass scale acceptance of Bitcoin payments or if they will also be implementing the Bitcoin Lightning Network for its customers as well. In addition to that, it is also unclear if Steak 'n Shake will be converting any earned BTC into cash or if they will be rolling any of his earnings into new restaurant openings.

This move also lands just days before Bitcoin Pizza Day on May 22, which commemorates the historic 2010 transaction when Laszlo Hanyecz famously paid 10,000 BTC for two pizzas.

While other brands like Chipotle, Subway, and Burger King have dabbled in crypto over the years, Steak 'n Shake's full-scale, no-pilot launch is one of the boldest plays yet in fast food's flirtation with Bitcoin.

As "Steaktoshi" put it:

"The movement is just beginning."