CHICAGO / LONDON (IT BOLTWISE) – Steak ‘n Shake has taken a bold step towards the digital future by launching a strategic Bitcoin reserve and launching a Bitcoin rewards program. This initiative aims to strengthen customer loyalty and increase sales while promoting the adoption of cryptocurrencies in everyday life. With a partnership with Fold Holdings Inc., customers can now earn Bitcoin rewards for their purchases.
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Steak ‘n Shake recently announced the launch of a Bitcoin Strategic Reserve (SBR), which will house all payments made in Bitcoin. This decision highlights the company’s long-term commitment to holding Bitcoin as part of its financial strategy. This move positions Steak ‘n Shake at the forefront of Bitcoin adoption in the fast food sector.
In addition to this reserve, the company has launched a rewards program that rewards customers with Bitcoin for purchasing certain meals. In partnership with Fold Holdings Inc., customers who upload their receipts and redeem a code can earn five dollars in Bitcoin through the Fold app. This program is available in approximately 400 Steak ‘n Shake locations nationwide and is intended to make Bitcoin easier to access as part of everyday life.
Will Reeves, Chairman and CEO of Fold, emphasized the importance of this initiative: “Bitcoin will become mainstream when it appears in everyday life. Our collaboration with Steak ‘n Shake is another step in that direction. For many people, this will be the first time they own Bitcoin, and it will be through something as common as buying a burger.”
This development marks the first time a U.S. restaurant chain has bundled meals with Bitcoin rewards, marking a significant milestone for mainstream Bitcoin adoption. Steak ‘n Shake’s integration of Bitcoin payments and rewards demonstrates the potential of digital assets to drive customer loyalty and increase sales in the restaurant industry. This strategy could serve as a model for other companies considering similar approaches.
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