A New Crypto-Themed Promotion

In a new partnership, restaurant chain Steak ‘n Shake is teaming up with Bitcoin services company Fold to offer customers real Bitcoin rewards. Patrons who purchase the new Bitcoin Burger or Bitcoin meal at nearly 400 U.S. locations can claim $5 in BTC.

To receive the reward, customers must upload their receipt to the promotion’s website and claim the Bitcoin through the Fold app. This initiative follows a previous collaboration where Fold offered BTC rewards for Steak ‘n Shake gift cards purchased through its platform.

Fold CEO Will Reeves explained that the partnership is part of a larger strategy to demonstrate how Bitcoin can integrate into everyday spending. He noted that Fold is already active across retail and dining through its gift card marketplace and plans to continue expanding into new categories.

Deeper Integration into the Bitcoin Ecosystem

Alongside the promotion, Steak ‘n Shake announced it is establishing its own strategic Bitcoin reserve. Rather than purchasing Bitcoin with company funds, the restaurant will fill its reserve with the BTC it earns directly from customer payments for its food and drinks.

The company is also adding a charitable component to the campaign. For every Bitcoin meal sold, Steak ‘n Shake will donate 210 sats, the smallest unit of Bitcoin, to OpenSats, a public charity supporting open-source contributors in the Bitcoin network.

This move marks Steak ‘n Shake’s latest effort to embrace cryptocurrency. After beginning to accept Bitcoin payments earlier this year, the company attributed a portion of its year-over-year sales growth to the crypto community. The chain recently reinforced its commitment by scrapping plans to add Ethereum payment options following pushback from Bitcoin proponents.

About Fold

Fold is a publicly traded financial services firm that offers a debit card providing Bitcoin rewards on purchases. The company, which also has a Bitcoin credit card in development, went public on the Nasdaq under the ticker FLD in February. The stock was trading at $3.59 on Friday afternoon.