Speak to the Bitcoin 2025 Conference This morning, Steak ‘n shake Executive Dan Edwards shared new data and insights from the recent step of the company to accept Bitcoin payments worldwide through the Lightning Network.
“On May 16 we started to accept Bitcoin as a payment at all our locations where this was allowed by law,” Edwards began. “This is a worldwide implementation.”
According to Edwards, Bitcoin transactions are already performing better than expectations. “The day we launched Bitcoin, 1 of the 500 Bitcoin transactions in the world happened at Steak ‘n Shake,” he said.
Steak ‘n Shake also saves considerably in the processing costs. “Bitcoin is faster than credit cards and when customers choose to pay in Bitcoin, we save 50% in processing costs,” said Edwards. “That makes Bitcoin a victory for the customer, a victory for us and a victory for the Bitcoin community.”
He emphasized that the decision was not a publicity stunt, but a serious payment plan. “We didn’t see this as a marketing gimmick. We saw it as a feasible option to pay – equal to other worldwide -accepted methods.”
The company reports that the behavior of customers has already shifted. “We have seen a persistent peak since adding Bitcoin,” Edwards noted.
Edwards also teased the future plans of the company and asked for more technical talent. “We are not ready yet. We invest in cyberkoks, autonomous disks, AI technology – and we need engineers to help us build it up.”
To celebrate bitcoin integration, menu items with Bitcoin theme with a limited edition are launched this week in Las Vegas, including the Bitcoin Burger, Super-Sized Bitcoin meal and Bitcoin Milkshake. A “blockchain menu” is also in the making.
“Celebrate the use of Bitcoin,” concluded Edwards. “Because this is just the beginning.”