Steak ’n Shake Introduces Bitcoin Incentive
Steak ’n Shake is introducing a Bitcoin incentive for its hourly workforce, linking compensation to hours worked in an unconventional manner. Starting March 1, employees at locations owned by the company will earn a Bitcoin bonus valued at $0.21 for each hour they work, although they will only be able to access these funds after a two-year waiting period. This initiative is being marketed as a loyalty reward for staff, with Steak ’n Shake emphasizing the connection between employee satisfaction and customer service, stating on platform X:
“We take care of our employees; they, in turn, take care of customers; and the results take care of themselves.”
Criticism and Concerns
However, the announcement has been met with fierce criticism across social media platforms. Detractors have quickly dismissed this Bitcoin bonus as an inadequate substitute for a traditional pay raise, pointing out that the vesting period could prevent many employees from ever reaping the rewards, given the high turnover typical in the fast-food industry. It’s noted that a full-time worker could expect to receive a total of less than $900 in Bitcoin over two years—a figure that some users found laughable. One critic sarcastically suggested that employees would be better off receiving a packet of ramen noodles for each hour worked, reflecting the ethos of immediate and tangible assistance versus a delayed and minimal cryptocurrency reward.
Broader Strategy and Future Plans
This bonus scheme is part of a broader strategy by Steak ’n Shake to engage with the cryptocurrency market. In partnership with Fold, a financial application focused on Bitcoin, the company has incorporated digital currencies into its operations and claims to have invested $10 million in Bitcoin for its own balance sheet. Additionally, it began accepting Bitcoin payments via the Lightning Network in 2025, a development intended to reduce transaction fees significantly compared to standard credit card transactions.
Furthermore, Steak ’n Shake has committed to directing all Bitcoin transaction revenue into a “Strategic Bitcoin Reserve”, indicating its optimism regarding the potential financial advantages of blockchain assets, despite the skepticism surrounding its latest employee incentive program.
