Steak ‘n Shake Abandons Ethereum Payment Plans Amid Bitcoin Support
- Steak ‘n Shake will not accept Ethereum payments despite a poll showing a majority support for it.
- The restaurant franchise began accepting Bitcoin payments in its U.S. locations in May.
- Same-store sales increased by over 10% in Q2, attributed to the Bitcoin community’s support.
- Vitalik Buterin supported the decision to focus on Bitcoin, emphasizing the value of businesses with strong tribal beliefs.
- Steak ‘n Shake plans to launch a “Bitcoin Steakburger” on October 16, reflecting its commitment to Bitcoin integration.
Despite community votes favoring Ethereum payment options, Steak ‘n Shake chose to remain exclusive to Bitcoin after facing backlash from Bitcoin supporters. The company credits its decision and focus on Bitcoin for significant sales growth in recent quarters.
The decision underscores the company’s alignment with the Bitcoin community, which has been instrumental in boosting sales by over ten percent in Q2 alone. (Source)
