Bitcoin price volatility remains a concern, with stablecoins seen as a useful hedge while regulatory scrutiny and ongoing adoption shape outcomes.

Earlier in 2026, the company added about $10 million worth of Bitcoin to its corporate treasury, reinforcing a self-sustaining cycle of crypto revenue and growth.

Key strategic takeaways for other businesses include cutting fees with crypto, attracting new customers, offering crypto-based staff bonuses, and building a crypto treasury for long-term gains.

Bitcoin adoption is placed within the fast-food sector’s payment evolution, noting expanding crypto use beyond early adopters and the role of stablecoins in reducing volatility.

Steak ’n Shake began accepting Bitcoin payments in May 2025, kicking off a Bitcoin-to-revenue transformation that has helped drive sales growth and expanded the company’s treasury.

The broader competitive landscape involves fintechs and traditional payment rails vying for dominance as crypto becomes more embedded in everyday transactions.

The move operates under publicly listed Biglari Holdings, with potential additional financial details to surface through regulatory filings and disclosures.

Experts caution this is a genuine digital-asset treasury play rather than marketing, though merchant demand for crypto payments remains uncertain without improved payment infrastructure.

The strategy is framed as successful in boosting sales but carries an unrealized loss on the BTC treasury and depends on future price movements; detailed figures were not fully disclosed and comments requests went unanswered.

Overall, crypto adoption at retail is presented as driving sales and reshaping payment rails and monetization strategies across the ecosystem.

Nine months into the program, the chain reports a notable rise in same-store sales attributed to crypto payments, signaling a competitive edge in a crowded fast-food market.

Industry observers say card networks, stablecoin issuers, and crypto apps are racing to integrate crypto into mainstream payments, with regulatory clarity potentially accelerating adoption.