“All payments received in Bitcoin will be placed in our SBR.”
Steak ’n Shake with a side of Bitcoin?
Steak ’n Shake, an American institution in the fast food market known for its tender steaks and decadent shakes, seems as far removed from revolutions in finance as you can get, but they are embracing Bitcoin before your high street bank!
In a move that is unexpected for this sizeable yet smaller fast food chain compared to the “fast food cartel” of McDonald’s, Burger King, Shake Shack and Wendy’s, Steak ’n Shake are betting big on the future of Bitcoin by creating its very own Bitcoin treasury, and this is how it will work, well, it is actually quite novel and blends sleek marketing with a world-beating asset reserve.
The promotion offers an incentive through $5 in Bitcoin for those who purchase a Bitcoin Steakburger or Bitcoin Meal, which has a threefold effect of novelty, generating assets and accessibility. The novelty aspect drives new customers who think, “wouldn’t it be cool to buy a meal and get Bitcoin?”, likely leading customers to pass numerous fast food chains to have the experience, a bit like the movie Harold & Kumar Go to White Castle, they had the munchies for White Castle and many will likely have the Bitcoin munchies for Steak ’n Shake!
The second effect is a generating asset, Bitcoin like gold, although volatile, is a value-generating asset as it in the long run rises in value. The third aspect is accessibility, which caters to a growing list of digital nomads and decentralised finance pioneers who don’t drink the central Kool-Aid and live on-chain.
They will also donate 210 satoshis from every Bitcoin-themed meal sold over the next 12 months to the OpenSats Initiative, which supports Bitcoin developers. Whatever your opinion, it is clear to see that this has all the hallmarks of both a great marketing campaign and a strategic treasury position.