Restaurant company Steak ';n Shake is a sponsor of the Bitcoin 2025 Conference and used the event to share an update on its recent push into Bitcoin (CRYPTO: BTC) as a payment option, as it also embraced the crypto community via social media posts.
What Happened: While many in attendance at the Bitcoin 2025 Conference in Las Vegas may have been excited to hear from U.S. Vice President JD Vance who talked about the growing adoption of Bitcoin in the country, others may have loved a real-world example from Steak ';n Shake.
The restaurant company, which is owned by Biglari Holdings (NYSE:BH), launched Bitcoin payments on May 16 utilizing the Bitcoin Lightning Network.
Steak ';n Shake Chief Operations Officer Dan Edwards spoke at the Bitcoin event about the company's push into crypto.
"The day we launched Bitcoin, one out of every 500 bitcoin transactions in the world happened at Steak ';n Shake," Edwards said, calling the Bitcoin payment acceptance at locations "a global implementation."
In the speech, Edwards said that accepting Bitcoin as a payment option was not a publicity stunt, as reported by Bitcoin Magazine.
"We didn't see this as a marketing gimmick. We saw it as a viable option to pay -- on par with other globally accepted methods.
Edwards said Bitcoin is helping the company with transaction speeds and the company is saving 50% in processing fees.
"That makes Bitcoin a win for the customer, a win for us, and a win for the Bitcoin community."
Edwards said since the restaurant company started accepting Bitcoin as a payment option, it saw increased sales.
"We've seen a sustained spike since adding Bitcoin."
Posts on social media highlighted the company's Bitcoin payment options with a call out to the crypto community by some large accounts to try and support the restaurant.
Among the supporters was Bitcoin advocate and Block Inc (NYSE:XYZ) CEO Jack Dorsey. A user on X told Dorsey it was a shame that Steak ';n Shake wasn't using Block's Square terminals.
"We are going to work on that," Dorsey said.
Read Also: Making Kennedy Proud Again? New Poll Shows 34% Of Diners More Likely To Try Food Cooked In Beef Tallow
Why It's Important: Steak ';n Shake has embraced several communities in recent months, including Tesla fans, and investors and fans of President Donald Trump, Secretary of Health and Human Services Robert F. Kennedy Jr. and the "Make America Healthy Again" movement.
The restaurant received increased attention for switching its cooking method for French fries to beef tallow, which drew praise and a visit from Kennedy.
Embracing these communities and a social media push that appeals to these fans could help with sales and ultimately help Biglari’s stock.
Edwards said the company offered several limited-edition Bitcoin-themed menu items in Las Vegas to celebrate the Bitcoin launch. This includes the Bitcoin Burger, a Bitcoin Milkshake and a Super-Sized Bitcoin Meal.
The restaurant executive also teased that a "blockchain menu" is in the works.
As for what Steak ';n Shake could be embracing next, artificial intelligence could be the answer.
"We're not done. We're investing in cyber chefs, autonomous drives, AI tech -- and we need engineers to help us build it."
BH Price Action: Biglari Holdings stock closed down 2.34% to $261.07 on Wednesday versus a 52-week trading range of $159.69 to $271.35. Biglari stock is up 2.7% year-to-date and up 34% over the last year.
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Photo: Deutschlandreform via Shutterstock
