Steak ‘n Shake adds $5M in Bitcoin to reserve as in-store sales grow 18%
The restaurant chain said that its adoption of Bitcoin is one of the main reasons that it is “trouncing” its fast-food competitors.
US fast-food restaurant chain Steak ’n Shake has added $5 million worth of Bitcoin to its Strategic Bitcoin Reserve as part of a pledge to funnel all sales made in Bitcoin straight into the fund.
The move takes the company’s total Bitcoin (BTC) holdings to $15 million, equivalent to roughly 167.7 BTC at the time of publication, following a $10 million increase announced on Jan. 18.
However, it is not clear exactly how much Bitcoin it holds, nor whether the amount reflects price appreciation, customer payments, or additional treasury purchases.