Steak n’ Shake COO Says Bitcoin Payments Cut Processing Fees in Half
LAS VEGAS, Nevada — Steak n’ Shake has only been accepting bitcoin payments for two weeks, but the American fast food chain’s COO Dan Edwards said it’s already been a “win” for both the company and its customers.
Speaking at Bitcoin 2025 in Las Vegas on Tuesday, Edwards said that bitcoin payments have been faster and cheaper than traditional credit card payments.
“When customers choose to pay in bitcoin instead of credit cards, we are saving about 50% in our processing fees,” Edwards said. “This means that bitcoin is a win for the customer, it’s a win for us as a merchant, and it’s a win for the bitcoin community.”
Edwards said that on May 16, the day Steak n’ Shake began accepting bitcoin payments, one in every 500 bitcoin transactions globally happened at Steak n’ Shake.
“Accepting bitcoin allows us to meet our customers where our customers are,” Edwards said. “We were seeking to provide our customers with another viable option by which to pay for our products. We understand that allowing customers to pay with bitcoin alongside cash and credit cards, puts bitcoin on par with those methods, those other globally accepted payment methods.”
Edwards added that you can buy more than just a burger and beef tallow fries with your bitcoin at Steak n’ Shake – the company is also allowing would-be franchisees to purchase their franchises with bitcoin.
Riding the success of bitcoin payments, Edwards said the company is looking for other ways it can embrace technology to bring its food into the future — including robo-taxis, cyber-chefs, and drones.
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