Steak ’n Shake Increases Bitcoin Holdings by $10 Million After Eight Months of Crypto Payments

Steak ’n Shake announced Saturday that it has increased its Bitcoin holdings by $10 million in notional value, deepening the fast-food chain’s commitment to digital currency following the rollout of Bitcoin payments across its U.S. restaurants.

The Indianapolis-based company said all Bitcoin received from customers goes directly into its “Strategic Bitcoin Reserve.” According to a social media post from the official Steak ’n Shake account, the initiative ties its payment strategy to broader business growth, and the reserve will help fuel improvements without raising menu prices.

Steak ’n Shake did not disclose how much Bitcoin it holds in total or the exact timing of the latest purchase but said the increase reflects the cumulative effect of accepting crypto payments for eight months.

Bitcoin Payments Linked to Sales Growth

Steak ’n Shake began accepting Bitcoin at all U.S. locations in May 2025 via the Lightning Network, a protocol designed to speed up transactions and lower costs compared with traditional card payments.

The company said same-store sales have risen “dramatically” since the crypto option was introduced. Independent media reports and company statements from late 2025 showed same-store sales increases of more than 10% in the second quarter and roughly 15% in the third quarter after the Bitcoin rollout began.

Steak ’n Shake Chief Operating Officer Dan Edwards previously told reporters that the restaurant saved about 50% on processing fees when customers paid in Bitcoin, compared with credit card fees.

The restaurant’s strategy includes a consumer engagement angle. Last year, it introduced a Bitcoin-branded burger and tied part of the proceeds from a “Bitcoin Meal” to donations supporting Bitcoin development projects.

Industry analysts say Steak ’n Shake’s approach is unusual for a major restaurant brand because it integrates cryptocurrency directly into daily operations rather than holding it purely as an investment asset. Broader adoption of Bitcoin in retail remains limited, but companies exploring digital currency acceptance say it can reduce costs and attract tech-savvy customers.

Steak ’n Shake’s announcement this week marks one of the more notable examples of a consumer-facing business tying its payment systems to Bitcoin accumulation and corporate strategy.

Weekly Bitcoin Chart Points to $136,000 Target

Meanwhile, Bitcoin’s weekly chart is starting to turn higher after holding a rising trendline, according to technical analyst Donald Dean, who said the next channel target sits near $136,000.

Bitcoin Weekly Chart. Source: TradingView / X

Dean wrote on X that Bitcoin is “time to move higher,” arguing the latest rebound began from long term trendline support on the weekly timeframe. The chart shows Bitcoin staying inside an upward sloping channel, with the recent pullback stopping above the lower boundary before price started to recover.

That structure keeps the broader uptrend intact because the weekly pattern still shows higher highs and higher lows, even after the correction from the prior peak. The upper trendline, drawn across earlier weekly tops, now acts as the reference level for Dean’s projected target around $136,000.

The post also referenced IBIT, the iShares Bitcoin Trust, as a proxy for Bitcoin exposure that many traders track alongside spot price action. While the chart does not set a timeline, the weekly framing implies any move toward the upper boundary would likely take weeks, not days, and would depend on Bitcoin continuing to hold above the rising support line.