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Steak ‘n Shake to accept Bitcoin at 300 US outlets from May 16 Steak ‘n Shake to accept Bitcoin at 300 US outlets from May 16

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Steak ‘n Shake to accept Bitcoin at 300 US outlets from May 16 – Crypto News

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  • All 300+ US locations included in launch. Starbucks.
  • Chipotle use fiat-converted crypto.
  • Venezuela and El Salvador show mixed results.

Bitcoin is about to face one of its most practical tests yet.

American fast-food chain Steak ‘n Shake announced that it will begin accepting the world’s largest cryptocurrency at all of its US locations starting 16 May.

With more than 300 outlets and over 100 million customers annually, the rollout positions Steak ‘n Shake as a major player in the push to normalise crypto in everyday transactions.

The decision also comes at a time when mainstream retailers are under pressure to modernise payment systems.

For Bitcoin, long seen more as a store of value than a spendable currency, the partnership presents a real-world opportunity to demonstrate its utility—particularly in a low-margin, high-speed retail setting that will challenge its scalability and efficiency.

Thin margins, high volume

Fast food chains rely on speed, volume, and efficiency to remain profitable.

Unlike high-end retail, where large margins allow room to experiment with alternative payment methods, companies like Steak ‘n Shake must ensure any system change is reliable and cost-effective.

Bitcoin’s integration, therefore, becomes more than a gimmick—it is a stress test for how well the cryptocurrency can perform under retail pressure.

The announcement was teased in March with a post on X (formerly Twitter), where Steak ‘n Shake asked followers whether it should accept Bitcoin. That post drew attention from high-profile figures, including former Twitter CEO Jack Dorsey.

The company followed up with crypto-themed marketing, including a tweet referencing Elon Musk’s Mars ambitions and Robert F. Kennedy Jr.’s vocal support for both Bitcoin and beef tallow.

Past attempts and pilots

The upcoming rollout differs from earlier, limited experiments by other food chains.

Starbucks enabled BTC wallet top-ups in 2021 through the Bakkt app, though the crypto was converted to dollars before reaching the till.

Chipotle began accepting over 90 cryptocurrencies in 2022, including Bitcoin, Ether, and Solana, through Flexa—again with automatic conversion to fiat currency.

Subway was one of the first fast food chains to test Bitcoin payments back in 2013 at select franchises.

Although some stores in crypto-forward cities later revived the initiative, there was no national implementation.

Global rollouts and legal tender

Outside the US, crypto adoption in food retail has typically responded to local economic pressures.

In Venezuela, Burger King briefly accepted Bitcoin and other digital assets in 2020 via a partnership with Latin American platform Cryptobuyer.

However, this was limited in scope and short-lived.

El Salvador went further by declaring Bitcoin legal tender in 2021.

Major brands like Pizza Hut and Starbucks quickly offered crypto payments in the country.

Despite the fanfare, national usage has remained low, with some reports citing infrastructure gaps and inconsistent user experiences.

Native crypto or fiat?

Steak ‘n Shake has yet to confirm whether it will process Bitcoin natively or convert it to fiat at checkout.

Previous retail integrations have mostly favoured instant conversion tools to manage volatility.

The answer could define whether this rollout represents genuine on-chain adoption or simply another workaround.

If the rollout succeeds, it could prompt other national chains to reassess crypto payments.

If it fails, it may reinforce doubts about Bitcoin’s use in everyday commerce.

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