Pro-Bitcoin Restaurant Steak 'n Shake Expands to El Salvador

Steak n Shake, a fast food chain based in the United States, has announced its expansion into El Salvador, a country that has embraced Bitcoin as legal tender. The company officially made this announcement following its participation in the Bitcoin Historico event in El Salvador.

According to the report from Cointelegraph, Steak n Shake started accepting Bitcoin for payments back in May, and its chief operations officer, Dan Edwards, expressed the company's ambition to have Bitcoin accepted at all of its locations worldwide.

This proactive approach towards cryptocurrency has resulted in a nearly eleven percent rise in same-store sales during the second quarter, showcasing the positive impact of Bitcoin acceptance on the business model.

Steak n Shake has gained significant traction within the Bitcoin community and is becoming a symbol of the increasing adoption of Bitcoin for everyday transactions. This trend is seen as a precursor to broader mass adoption of cryptocurrency in various sectors.

In an interesting turn of events, Steak n Shake recently conducted a poll on social media to gauge interest in accepting Ether as a payment method, which garnered mixed reactions. While fifty-three percent of the over forty-eight thousand participants voted in favor, the backlash from the Bitcoin community was significant, leading the company to retract its proposal and reaffirm its commitment to Bitcoin.

The company stated, 'Our allegiance is with Bitcoiners,' signaling its focus on maintaining support from the Bitcoin community. Following these developments, Steak n Shake celebrated a successful third quarter with a fifteen percent quarter-over-quarter increase in same-store sales, outperforming competitors such as McDonald's, Burger King, and Starbucks.

This expansion into El Salvador and the dedication to Bitcoin acceptance highlight the restaurant's role in the evolving landscape of cryptocurrency integration into daily commerce. Sources indicate that this move could inspire other businesses to consider adopting cryptocurrency payments as well.