At the Bitcoin 2025 Conference, Steak 'n Shake executive Dan Edwards announced the company's global acceptance of Bitcoin payments via the Lightning Network. Launched on May 16, the initiative has already shown strong performance, with substantial savings on processing fees—up to 50% compared to credit cards. Edwards clarified that this move transcends marketing hype, presenting a serious upgrade in payment options. The company also reports a notable uptick in customer transactions since introducing Bitcoin, and has plans for innovative items themed around cryptocurrency to engage its clientele further.
On May 16, we began accepting Bitcoin as payment in all of our locations where permitted to do so by law.
Bitcoin is faster than credit cards, and when customers choose to pay in Bitcoin, we're saving 50% in processing fees.
We didn't see this as a marketing gimmick. We saw it as a viable option to pay-on par with other globally accepted methods.
We've seen a sustained spike since adding Bitcoin.
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