Steak ‘n Shake Makes Bold Move: Hourly Workers to Get Paid in Bitcoin Starting March
Forget the 401(k) match—your next paycheck might just be a crypto wallet deposit. A major fast-food chain is flipping the script on traditional payroll, opting to funnel wages directly into digital currency.
The Paycheck Revolution
Starting next month, hourly employees at participating locations can choose to receive their earnings in Bitcoin. The move bypasses traditional banking rails entirely, depositing funds straight into employee-controlled wallets. No middlemen, no delays—just a direct line from time clock to blockchain.
Why This Cuts Through the Noise
This isn't corporate treasury speculation or executive bonus play. This targets frontline workers—a demographic often left out of fintech innovation conversations. It transforms routine wage payments into potential long-term crypto exposure, whether employees actively sought it or not.
The Fine Print Skepticism
Volatility remains the elephant in the room. A Friday paycheck could lose significant value by Monday's coffee run—hardly ideal for budgeting rent and groceries. The scheme likely includes instant conversion options, but that just recreates the old banking system with extra steps and transaction fees. Another case of solving a problem that didn't exist, brought to you by the same finance brains who brought us synthetic CDOs.
Love it or hate it, the experiment begins. March will tell if this is a visionary workforce empowerment play or just a publicity stunt that leaves employees checking crypto charts instead of their bank balances.
Bitcoin Treasury Strategy Drives Double-Digit Sales Growth
The hourly bonus builds on Steak ‘n Shake’s $10 million Bitcoin treasury purchase announced January 18, when the company acquired roughly 105 BTC as its first direct allocation since accepting crypto payments in May 2025.
The chain formalized a “” system that channels all customer Bitcoin payments directly into treasury holdings rather than converting them to cash, creating, as executives described, a self-sustaining model tying same-store sales increases to long-term reserve accumulation.
Lightning Network payments enabled across all US locations in mid-May brought transaction fee savings of nearly 50% compared with credit cards, alongside a roughly 15% increase in same-store sales in the months following the launch.
The rollout received public backing from Jack Dorsey, who had enthusiastically endorsed the chain’s Bitcoin adoption plans earlier in the year when the company first polled followers about accepting cryptocurrency.
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The company reported $69.3 million in Q2 2025 revenue, a 12% year-over-year increase, with executives crediting Bitcoin users for helping drive a 10.7% quarter-over-quarter rise in same-store performance.
That momentum accelerated into Q3 with 15% growth in same-store sales, outpacing major competitors including McDonald’s, Burger King, Taco Bell, and Starbucks to mark one of the most impressive runs in the fast-food sector.
Community Rewards Program Links Bitcoin to Everyday Spending
Through its partnership with Fold Holdings, launched October 31, Steak ‘n Shake offered customers $5 worth of Bitcoin when purchasing branded items, including the “” redeemable through the Fold app.
The company pledged to donate 210 satoshis for every “” sold to OpenSats, supporting Bitcoin Core and open-source development, while the limited-time promotion across 400 US locations introduced Bitcoin ownership to everyday consumers through ordinary transactions like grabbing a burger.
“Bitcoin goes mainstream when it starts showing up in everyday life,” Reeves said. “For many people, this will be the first time they ever own Bitcoin – and it will come from something as ordinary as grabbing a burger.“
$0.21/hr in Bitcoin. Every hour. Every employee.
Steak ’n Shake is a real bitcoin company, putting sound money into the hands of working Americans.
Proud @Fold_app is helping make it real. https://t.co/7o5jbl2SYf
The treasury strategy tied consumer incentives directly to crypto adoption rather than speculative investment, embedding Bitcoin into the daily habits of American consumers.
Steak ‘n Shake is owned by Biglari Holdings, led by Sardar Biglari, though the parent company has not disclosed whether Bitcoin will play a role in its broader balance-sheet strategy beyond the restaurant operations.
International Expansion and Renewed Bitcoin-Only Commitment
The chain expanded into El Salvador in November after participating in the Bitcoin Histórico event in San Salvador, entering the first country to adopt Bitcoin as legal tender and signaling deeper engagement with the nation’s crypto-centered economy.
The symbolic MOVE followed months of strong financial performance tied to Bitcoin adoption across existing markets in the US, France, Monaco, and Spain.
However, the company briefly faced backlash in October after polling followers about accepting Ether payments, with 53% of nearly 49,000 votes favoring the expansion.
Just four hours later, Steak ‘n Shake abruptly suspended the poll and declared loyalty to Bitcoiners.
“Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” the company posted, reaffirming its commitment to Bitcoin-only payments.
The quick reversal came after prominent Bitcoin advocates, including Simecka, vowed never to dine at the restaurant again if it accepted Ether.
Bitcoin slid 4% to $88,000 after a leverage wipeout, while investors rotated into gold and silver during a broad “Sell America” risk-off move.#CryptoMarketUpdate #AsiaMarketOpen https://t.co/u1Hx1SGZMA
The announcement comes as Bitcoin slid 4% to about $88,000 on Wednesday amid a sharp leverage unwind that ripped through crypto markets, with liquidation data from CoinGlass showing 181,570 traders wiped out over 24 hours and total liquidations reaching $1.07 billion.
Long positions absorbed $998.33 million in liquidations versus $71.39 million in shorts, while Bitcoin and Ether accounted for the bulk of forced selling at $440.19 million and $392.38 million, respectively, as trade tensions and tariff threats revived fears of a wider economic conflict pressuring risk assets globally.
