Steak ‘n Shake has made headlines over the last year for showing support to several communities, including fans of Tesla, the Make America Healthy Again movement under the Trump administration and the cryptocurrency community.
The restaurant company is now ready to put its money where its mouth is and pay employees in Bitcoin.
Steak ‘n Shake Paying Employees Bitcoin Bonuses
"Starting March 1, Steak n Shake will give all hourly employees at its company-operated restaurants a Bitcoin bonus of $0.21 for every hour worked," the company tweeted.
The Bitcoin payment will not be immediate; employees will need to wait for a "two-year vesting period." The payments are made in partnership with Fold.
"We take care of our employees; they, in turn, take care of customers; [and] the results take care of themselves."
The payments will be made at company-owned locations, so employees at franchised locations would not be eligible unless a plan is offered directly by those locations.
Steak ‘n Shake had nearly 400 restaurant locations owned by the company and franchisees in 2025.
The latest move follows the restaurant’s acceptance of Bitcoin as a payment option in May, using the Lightning Network.
Starting March 1, Steak n Shake will give all hourly employees at its company-operated restaurants a Bitcoin bonus of $0.21 for every hour worked.
Employees will be able to collect their Bitcoin pay after a two-year vesting period. Thank you, @Fold_app, for the assist.
An employee eligible for Bitcoin payments will earn $0.21 per hour in Bitcoin, or $8.40 per week if they work a full 40 hours. This would translate to a yearly total of $436.80 in Bitcoin, assuming no weeks off and working 40 hours each week.
While that doesn't sound like a huge amount, it could add up to a large sum over time if Bitcoin climbs in value. Coinbase CEO Brian Armstrongsees Bitcoin hitting $1 million in 2030, while Ark Invest CEO Cathie Wood sees Bitcoin hitting $1.2 million in 2030.
At today’s price of $88,061.52 for Bitcoin, the $436.80 in annual BTC payments could buy 0.0050 BTC. If Bitcoin hits $1 million in 2030, that total would be worth $5,000.
Bitcoin Support Helps Sales
Steak ‘n Shake’s involvement in cryptocurrency shouldn't come as a surprise. The company recently announced it increased its Bitcoin holdings by $10 million as part of its Strategic Bitcoin Reserve (SBR). The company also claims same-store sales rose “dramatically" since it began accepting Bitcoin as a payment option.
"We have created a self-sustaining system – growing same-store sales that grow the SBR."
At the Bitcoin 2025 Conference, the company's COO Dan Edwards said that one of every 500 bitcoin transactions in the world happened at Steak ‘n Shake on the day of the payment launch in May 2025.
"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.
Edwards previously said Bitcoin is helping the company improve transaction speeds and that it is saving 50% on processing fees.
“That makes Bitcoin a win for the customer, a win for us, and a win for the Bitcoin community.”
Biglari Stock Climbs
Biglari stock is up 2.7% to $456.10 on Wednesday, versus a 52-week trading range of $195.05 to $465.73. Biglari shares are up 106.5% over the last 52 weeks.
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