Finance

Bitcoin Burgers and BTC Rewards: How Fold and Steak ‘n Shake Are Luring Customers

Steak ‘n Shake partners with Fold, offering Bitcoin rewards for customers buying a “Bitcoin Burger.”

byAndres Castro

October 31, 2025, 4:00 PM

This cartoon burger, complete with a Bitcoin coin, is ready to tempt you with its deliciousness. By MDL.

Executive Summary

Fold has partnered with Steak ‘n Shake to offer a limited-time promotion providing $5 in Bitcoin rewards to customers who purchase a new “Bitcoin Burger” or “Bitcoin Meal” at nearly 400 U.S. locations.

This collaboration is part of Fold’s broader strategy to integrate Bitcoin into everyday spending through mainstream partnerships across retail, dining, and lifestyle brands.

Steak ‘n Shake has a history of engaging with the Bitcoin community, including accepting BTC payments and previous Bitcoin reward promotions, and even introduced a “Bitcoin Steakburger” featuring the Bitcoin logo.

The Story So Far

The partnership between Fold and Steak ‘n Shake is driven by Fold’s strategic goal to integrate Bitcoin into everyday spending through rewards and expand its reach across mainstream brands, coupled with Steak ‘n Shake’s established history of engaging the Bitcoin community and accepting Bitcoin payments.

Why This Matters

The partnership between Fold and Steak ‘n Shake, offering Bitcoin rewards for everyday purchases like the “Bitcoin Burger,” signifies a deliberate move to mainstream crypto adoption. This initiative is part of Fold’s broader strategy to integrate Bitcoin into daily consumer spending across various retail and dining sectors, aiming to normalize its use and make earning Bitcoin more accessible and rewarding for the general public, thereby potentially accelerating its widespread acceptance beyond investment.

Who Thinks What?

Fold, through its CEO Will Reeves, views the partnership with Steak ‘n Shake as the first of many mainstream collaborations designed to integrate Bitcoin into everyday spending and make earning Bitcoin simpler and more rewarding for consumers.

Steak ‘n Shake is actively engaging with the Bitcoin community by accepting Bitcoin payments, offering Bitcoin rewards, and adapting to community feedback, such as abandoning plans for Ethereum payments after criticism.

The Bitcoin community is critical of alternative cryptocurrencies like Ethereum, influencing Steak ‘n Shake’s decision to drop plans for Ethereum payment options, while supporting Bitcoin-focused initiatives.

Fold, a publicly traded Bitcoin financial services firm, has partnered with restaurant chain Steak ‘n Shake to offer Bitcoin rewards to customers who purchase a new “Bitcoin Burger” or “Bitcoin Meal.” The limited-time promotion is available at nearly 400 U.S. Steak ‘n Shake locations, allowing customers to claim $5 in Bitcoin (BTC) via the Fold app after uploading their receipts to a dedicated website.

Partnership Details and Bitcoin Integration

The collaboration marks a continued effort by Steak ‘n Shake to engage with the Bitcoin community, following its earlier adoption of Bitcoin payments and a previous promotion offering Bitcoin rewards for gift card purchases through the Fold app. The fast-food chain recently introduced the Bitcoin Steakburger, which features the Bitcoin logo stamped on its bun, to commemorate five months of accepting BTC payments. Steak ‘n Shake had considered adding Ethereum payment options but reportedly abandoned these plans after facing criticism from the Bitcoin community.

Will Reeves, Founder and CEO of Fold, emphasized that this partnership is the first in a series of mainstream collaborations designed to integrate Bitcoin into everyday spending. Fold aims to expand its reach across retail, dining, and lifestyle brands through its existing gift card marketplace, making it simpler and more rewarding for people to earn Bitcoin.

Fold’s Market Performance and Broader Context

Fold operates by offering a debit card that provides Bitcoin rewards on daily purchases and is currently developing a Bitcoin credit card. The company went public on Nasdaq under the ticker FLD in February. As of Friday, its shares were down approximately 3.5% for the day and around 68% year-to-date, trading at $3.59. Meanwhile, Bitcoin has shown a slight rebound, rising 1% to $108,737 in the last 24 hours.

This initiative comes as the broader crypto market navigates significant shifts, including the Federal Reserve’s hinted conclusion to its quantitative tightening program. This policy pivot could influence risk assets like Bitcoin, with experts debating whether it will fuel a new bull run or lead to a market slump similar to 2019.