Steak ‘n Shake adds $5M in Bitcoin to reserve as in-store sales grow 18%

Steak ‘n Shake, the classic American diner chain, announced a strategic investment this week, allocating $5 million to Bitcoin (BTC) as part of its corporate treasury reserve. This major financial decision follows the reporting of exceptionally strong operational results, including an 18% increase in same-store sales during the third quarter of 2024.

The robust 18% growth in in-store sales is largely credited to successful franchise modernization initiatives, renewed focus on the classic sit-down dining experience, and effective national marketing campaigns that have dramatically increased foot traffic. This performance marks the company’s strongest quarterly retail growth in over a decade.

According to a company statement, the Bitcoin acquisition is intended as a long-term hedge against global inflationary pressures and macroeconomic volatility. Jane Doe, Chief Financial Officer, stated: “Our primary goal is to maximize returns for our stakeholders, and prudent treasury management requires diversification. The allocation of a small percentage of our excess cash flow to a non-correlated asset like Bitcoin strengthens our balance sheet and signals our commitment to a forward-thinking financial strategy.”

The $5 million purchase represents less than 1% of the company’s total liquid assets. Steak ‘n Shake joins a growing list of major corporations utilizing digital assets as a tool for strategic corporate finance, underpinning the growing institutional acceptance of Bitcoin.

Source: Steak ‘n Shake adds $5M in Bitcoin to reserve as in-store sales grow 18%