Steak ‘n Shake, a US fast food restaurant company that accepts Bitcoin (BTC), announced on Saturday that it is expanding into El Salvador.
“It was an honor to be in the land of Bitcoin,” the company said in an X post after Steak ‘n Shake participated in the country’s Bitcoin Historico event on Wednesday and Thursday.
Steak ‘n Shake began accepting BTC for in-store payments in May, and the company’s chief operating officer, Dan Edwards, told Cointelegraph that the goal is to have all of the company’s locations around the world accept BTC.
sauce: steak & shake
The company attributed the nearly 11% increase in same-store sales in the second quarter to its decision to start accepting BTC in its restaurants.
The company has become an icon in the Bitcoin community, highlighting the growing number of merchants accepting BTC for goods and services. The acceptance of BTC as a bid for everyday small purchases also bodes well for mass adoption.
Steak ‘n Shake withdraws acceptance of Ether as a payment method and celebrates third quarter sales
Steak ‘n Shake surveyed its followers on the X social media platform in October, asking whether they should accept Ether (ETH) as payment in their stores.
53% of the 48,815 followers surveyed voted in favor of the proposal, sparking a huge backlash from the Bitcoin community.
“ETH is centralized garbage. Bitcoin is free. If you do that, you will lose your entire Bitcoin business, including mine,” replied Bitcoin Maximalist Ron Sovereignty Swanson.
Steak ‘n Shake initially promised to “adhere to the results” of the social media poll, but withdrew its offer to accept ETH.
“Voting has been canceled. Our allegiance lies with Bitcoiners. You have spoken. Who authorized this? I am back at my desk,” the company said on October 11, the same day voting began.
Steak ‘n Shake leads the competition in same-store sales growth in the third quarter. sauce: steak & shake
In November, the company celebrated strong third-quarter sales and touted a 15% increase in same-store sales from the previous quarter.
Steak ‘n Shake managed to lead all other competitors in the fast food sector, including McDonald’s, Burger King, Taco Bell and coffee house Starbucks, in same-store sales growth in the third quarter.
