Tech • IA • Crypto
Keynote: Steak 'n Shake | Bitcoin 2026
TL;DR
Steak ’n Shake says adopting Bitcoin payments has boosted sales, cut costs, and funded both menu upgrades and employee incentives.
Key Points
Bitcoin rollout and sales surge
Steak ’n Shake introduced Bitcoin payments on May 16, 2025, reporting the strongest same-store sales growth in the restaurant industry since the launch. The company says it also gained 2 million additional customers year over year, attributing the increase directly to its cryptocurrency strategy and marketing push.
Lower transaction costs
Executives state that Bitcoin transactions reduce payment processing costs by about 50% compared with credit cards. If all customers used Bitcoin, the chain estimates it could save roughly $6 million annually, significantly improving margins in a low-cost, high-volume business.
Reinvestment into food quality
The savings and increased traffic have been redirected into ingredient upgrades. Over the past year, the chain has shifted to 100% beef tallow fries and tallow tots, Grade A Wisconsin butter, and A2 milk, while eliminating microwaves in kitchens. A nationwide rollout of 100% grass-fed, grass-finished beef is scheduled for June 1.
New executive role focused on health
The company introduced a new position, “Chief Maha Officer,” tasked with improving nutritional quality and aligning operations with a “back-to-basics” philosophy. The role reflects a broader effort to combine traditional food preparation methods with modern financial infrastructure.
Bitcoin-themed products and branding
To promote adoption, Steak ’n Shake is launching limited-time items including a “Bitcoin milkshake” and a “Bitcoin steak burger,” with a symbolic cap of 21 million burgers, referencing Bitcoin’s fixed supply. The campaign aims to familiarize mainstream customers with cryptocurrency.
Employee incentives tied to Bitcoin
All Bitcoin revenue is directed into a corporate Bitcoin reserve, which funds worker bonuses. Employees receive a 21-cent Bitcoin bonus per hour worked, on top of standard wages, as part of a broader strategy to position the chain as a leading employer in the sector.
Executive and franchise adoption
Leadership is also embracing the currency internally, with at least one executive opting to receive part of their compensation in Bitcoin. Franchisees are now allowed to pay franchise fees using Bitcoin, expanding its use across the company’s ecosystem.
Positioning on value and pricing
Despite upgrades in ingredient quality, the chain emphasizes affordability, promoting a double steakburger meal with fries and a drink for under $10. The company frames Bitcoin-driven savings as key to maintaining low prices while improving food standards.
Philosophy linking currency and food quality
The company presents Bitcoin as a “healthy currency” that avoids inflation and high interchange fees, arguing that financial efficiency directly enables healthier menu options. This framing connects monetary policy with consumer food access in its branding strategy.
CONCLUSION
Steak ’n Shake is leveraging Bitcoin as both a payment system and marketing tool, claiming it strengthens finances, supports higher-quality ingredients, and reshapes incentives for workers and franchisees.
Full transcript
Thank you. So, as mentioned, Steak 'n Shake is a classic American brand. We were founded in 1934 on Route 66, known for inventing the steak burger, but also uh most notably the tallow fries and the legendary milkshakes. And I'm here today to say Bitcoin is making Steak 'n Shake more successful. Undoubtedly. We launched our Bitcoin platform on May 16th, 2025, and since then we've achieved the highest same-store sales growth in any restaurant in the industry. More notably, we've added 2 million more customers prior from the prior year. The math is simple for us. When we use Bitcoin, we save 50% on processing fees versus a traditional credit card user. To put it more simply, if every credit card user used Bitcoin, we would save roughly $6 million annually, which is huge for our bottom line. So, without the additional customers and savings, we would not be able to improve the food that we serve. In the past year, we've upgraded to 100% beef tallow fries and tallow tots. We're using grade A Wisconsin butter and A2 milk. Earlier this year, we we removed all microwaves, and our next big announcement, June 1st, we're rolling out 100% grass-fed, grass-finished beef across all stores. Thank you. It's simple for us. We went back in time to gain in the quality of food, and we're moving forward with Bitcoin, the future of money. It's real beef, real cattle eating real grass, powered by Bitcoin, which is real money made with real energy. It's first principles for us, not fiat. Bitcoin is a healthy currency that allows us to improve the healthiness of our products. I stand here today uh as a new chief Maha officer for Steak 'n Shake, the first in the industry. Thank you. So, we're guiding Steak 'n Shake to further improve the health of our food, and Bitcoin improves the health of our financial system. Bitcoin doesn't suffer from the ills of other currencies such as inflation caused by traditional politicians or credit card interchange fees. And new today, to bring others into the world of Bitcoin, to take the orange pill, if you will, we're launching the Bitcoin milkshake. I know, counterintuitive for the Maha guy, but >> [laughter] >> And to complement that, we're going to have the Bitcoin steak burger across all of our stores. There's going to be 21 million available. Get yours today. All Bitcoin sales go directly into our Bitcoin reserve, and that Bitcoin reserve powers the additional bonus for all of our employees. So, every one of our employees across all stores are eligible for a 21 cent Bitcoin bonus on top of every hour that they work. This is in addition to us being the the market leader in traditional wages, and we aim to be the maximum wage employer. I'm also here to add that I'm going to be one of the first in the industry to accept Bitcoin as part of my executive compensation package, and I hope that will pave the way for new models of compensation across the industry. Thank you. And on top of all that, franchisees can also use Bitcoin uh to pay their franchise fees. Bitcoin is making it possible for Steak 'n Shake to create a new space in fast food. We're bringing high quality to the masses and not making it exclusive to the affluent. We are going to be Who else on the value spectrum can deliver you two a double steak burger, fries, and a drink for under $10? No one. A healthy currency within a healthy company is delivering healthier food options at great prices. It's simple. Health is wealth for us. We believe in freedom. We believe in giving customers the freedom to choose healthier options, and we're using the currency that stands for freedom, Bitcoin. At the heart of the American culture is the freedom to choose, and we want to stand here next year with even more accomplishments powered by Bitcoin, because we fully embraced the future of money, Bitcoin. Thank you so much. Go find your nearest Steak 'n Shake. Thank you. >> [music] >> Every year, this community comes together >> [music] >> to celebrate, to debate, to build what comes next. >> [music] >> And every year, the stage gets bigger. >> [music] >> Sound money, center stage. So, where do you go [music] to celebrate the next chapter in Bitcoin history? You come home. >> [music] >> Nashville, July 2027.