Restaurant company Steak ‘n Shake is entering the world of cryptocurrency with plans to accept Bitcoin (CRYPTO: BTC) at all locations later this month. The move follows several other moves by the company targeting select groups of American consumers.
What Happened: Steak ‘n Shake is adding Bitcoin to the list of items they support in 2025 alongside support for beef tallow, the Make America Healthy Again movement, the Make America Great Again fans of Donald Trump and Tesla Inc (NASDAQ:TSLA) fans.
"Steak n Shake accepting Bitcoin payments at all locations starting May 16, making the cryptocurrency available to our more than 100 million customers. The movement is just beginning…. – Steaktoshi," the restaurant chain tweeted.
The signature of "Steaktoshi" paid tribute to Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
Steak ‘n Shake tested engagement for whether restaurant goers would pay with Bitcoin with a March tweet.
"Should Steak n Shake accept Bitcoin?"
That tweet attracted over one million views and saw a response from Bitcoin supporter and the co-founder of Block and Twitter Jack Dorsey.
Steak ‘n Shake has not announced who they will be partnering with for Bitcoin payments or if other cryptocurrencies like Dogecoin will also be accepted.
Restaurants also have a significant place in Bitcoin history, with two pizzas from Papa John's International being the first goods transacted with Bitcoin on May 22, 2010, a date now known as Bitcoin Pizza Day.
Why It's Important: Steak ‘n Shake has tested engagement with the Bitcoin community with the previous question on X and several images related to the leading cryptocurrency.
The latest announcement plays into the company's social media growth and strategy of targeting select communities.
The restaurant company has attached itself to the Make America Great Again and Make America Healthy Again communities of Donald Trump and Robert F. Kennedy Jr. with social media posts in the past.
A switch to beef tallow for cooking the chain's French fries drew praise from Kennedy, who took part in an interview with Fox News host Sean Hannity at one of the chain's Florida locations.
“Steak and Shake has been great. We’re very grateful to them for RFKing the French fries," Kennedy said of the restaurant's change.
Along with Kennedy’s support, Republican members of Congress have also praised the move and have posted pictures of purchases at the restaurants on social media.
“I just had a cheeseburger and fries cooked in beef tallow today for lunch!” a tweet from Rep. Marjorie Taylor Greene (R-Ga.) reads that was shared by the restaurant.
Social media posts show hats that say “Make America Healthy Again” and images of vehicles that look like Tesla vehicles, a potential reference to the EV company led by Trump’s ally Elon Musk.
Musk previously supported Kennedy’s praise for the beef tallow switch by the restaurant saying “the fries taste way better” with this cooking method.
While the move to embrace Kennedy and one political side could backfire, Steak ‘n Shake’s current social media strategy and the attention it got from Kennedy’s recent interview appear to be paying off. Google Trends data spiked in March thanks to the attention to the beef tallow fries.
"We identify Robotaxi with Tesla," a tweet said.
Steak ‘n Shake locations have also hosted Tesla days supporting the EV brand.
"To all Tesla drivers – tomorrow is Tesla Tallow Tuesday! We plan to supercharge your cars one day…for now we will Super Size your beef tallow fries all day all locations on May 6!" a recent tweet said.
Time will tell if the support for Bitcoin generates more social media posts and if the crypto community supports the restaurant by buying steakburgers and beef tallow fries.
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