Steak ‘n Shake Expands to El Salvador, Embraces Bitcoin

Steak ‘n Shake Ventures into El Salvador

Steak ‘n Shake, a prominent U.S. fast-food chain known for accepting Bitcoin (BTC), revealed its plans to expand into El Salvador. This announcement follows the company's involvement in the nation's Bitcoin Histórico event, marking its dedication to the cryptocurrency community.

Bitcoin Adoption Boosts Sales

Since May, Steak ‘n Shake has embraced BTC payments, leading to an 11% increase in same-store sales in Q2. The chain aims to implement BTC acceptance across all its locations globally, as stated by Chief Operations Officer Dan Edwards.

The company's alignment with Bitcoin has strengthened its reputation within the crypto community, underscoring a trend where more merchants are integrating BTC as a payment option for everyday transactions.

Reversal on Ether Payments

In October, Steak ‘n Shake engaged its audience on X to gauge interest in accepting Ether (ETH) as payment. Despite 53% voter approval, backlash from Bitcoin proponents led the company to withdraw the proposal, reaffirming its allegiance to Bitcoin.

“Poll suspended. Our allegiance is with Bitcoiners,” the company stated, highlighting its focus on maintaining its Bitcoin-centric strategy.

Record Q3 Sales Performance

Steak ‘n Shake reported a 15% increase in same-store sales for Q3, outperforming competitors like McDonald's and Burger King. This achievement reinforces its successful integration of Bitcoin payments.