Steak ‘n Shake Could Stick With Bitcoin After Suspending Ethereum Payment Poll

Author: COINOTAG | Published: October 13, 2025 | Updated: October 13, 2025

• Steak ‘n Shake suspended its ETH poll and will not add Ethereum payments

• Nearly 50,000 votes showed 53% support for ETH, but the company reversed course amid backlash from Bitcoin proponents.

• Q2 same-store sales rose 10.7%, a performance the company attributes to Bitcoin adoption and community support.

Steak ‘n Shake Ethereum decision: Steak ‘n Shake rejects ETH payments, stays Bitcoin-only after poll backlash; read the full update and what this means for franchisees.

What is Steak ‘n Shake’s decision on accepting Ethereum?

Steak ‘n Shake’s Ethereum decision is to suspend plans to accept ETH and remain a Bitcoin-first merchant. After running a public poll on X that registered nearly 50,000 votes, the company closed the poll and publicly stated it would preserve its allegiance to Bitcoin rather than add Ethereum as a payment option.

Why did Steak ‘n Shake abandon Ethereum payments?

The company cited community response and strategic alignment with its existing crypto payments program. Steak ‘n Shake launched Bitcoin payments at U.S. locations in May and reported a 10.7% increase in same-store sales in Q2, a figure the firm attributes to Bitcoin patronage. A social-media backlash from outspoken Bitcoin supporters followed the ETH poll, prompting Steak ‘n Shake to suspend the vote and reaffirm loyalty to its Bitcoin customer base.

How did stakeholders react?

Reaction split across the crypto community. Bitcoin maximalists criticized any move away from BTC exclusivity, some threatening to boycott if ETH were adopted. Michael Goldstein, president of the Satoshi Nakamoto Institute, mocked the potential change. Conversely, Ethereum founder Vitalik Buterin publicly endorsed the restaurant’s choice to stay Bitcoin-focused, calling the decision respectable and highlighting the value of businesses that remain committed to a tribe or cause.

Frequently Asked Questions

Did Steak ‘n Shake actually run an Ethereum poll on X?

Yes. Steak ‘n Shake posted a poll on X (formerly Twitter) asking followers whether to accept ETH; it received nearly 50,000 votes and showed roughly 53% in favor before the company suspended the poll and declined to move forward with ETH payments.

Will Steak ‘n Shake accept Bitcoin for franchise fees?

Yes. The company announced that it will accept Bitcoin for franchise-opening fees, a move disclosed by COO Dan Edwards at a Bitcoin Conference. This is part of the firm’s broader Bitcoin-first strategy for transactions and franchising.

Key Takeaways

• Decision: Steak ‘n Shake suspended its ETH poll and will not add Ethereum payments, reaffirming support for Bitcoin customers.
• Performance: The chain reported a 10.7% increase in same-store sales in Q2, which management attributes to Bitcoin adoption.
• Operational impact: Bitcoin remains accepted for purchases and franchise fees; a themed “Bitcoin Steakburger” was announced with an anticipated launch date of October 16.

Conclusion

Steak ‘n Shake’s choice to reject Ethereum payments and maintain a Bitcoin-centric payment model underscores how merchant decisions can be shaped by community response and demonstrable sales outcomes. The Steak ‘n Shake Ethereum decision highlights the importance companies place on customer alignment and measurable performance; COINOTAG will continue to monitor updates from the company and report verified developments.

“Poll suspended. Our allegiance is with Bitcoiners. You have spoken.”

— Steak ‘n Shake (@SteaknShake) October 12, 2025

“This is a good decision and I respect it. Not every business should be trying to appeal to [as] many customers as possible in the name of ‘not being maximalist.’ We need the stubborn ones who believe in their cause and their tribe and see their work as a labor of love to it.”

— Vitalik Buterin (posted on X)

“Bitcoin has been a game changer. ⚡️ Thank you Bitcoiners 🧡 Bitcoin, Burgers & Beyond 🚀”

— Steak ‘n Shake (@SteaknShake) August 8, 2025

Sources (plain text): Company statements on X; public financial disclosures reporting Q2 same-store sales; remarks by COO Dan Edwards at the Bitcoin Conference; public posts by Vitalik Buterin; commentary from the Satoshi Nakamoto Institute. No external links provided.