Steak ‘n Shake, a fast food restaurant company in the United States that accepts Bitcoin (BTC), announced on Saturday that it is expanding into El Salvador.
“We were honored to be in Bitcoin Country,” the company said in an X post following Steak ‘n Shake’s participation in the country’s Historic Bitcoin event on Wednesday and Thursday.
Steak ‘n Shake began accepting BTC as payment in its stores in May, and the company’s COO Dan Edwards told Cointelegraph that the goal is for BTC to be accepted in all of the company’s locations around the world.
The company attributed a nearly 11% increase in same-store sales in the second quarter to its decision to start accepting BTC at its restaurants.
The company has become iconic in the Bitcoin community and highlights the growing number of merchants accepting BTC for goods and services. The acceptance of BTC as currency for small, everyday purchases is also a precursor to mass adoption.
Related: Bitcoin Steak ‘n Shake Reserve: Happy Meal for Hodlers or Nothing Burger?
Steak ‘n Shake reverses acceptance of Ether as a payment method and celebrates third quarter sales
Steak ‘n Shake surveyed its followers on social media platform X in October, asking if it should accept Ether (ETH) as payment at its locations.
53% of the 48,815 followers surveyed voted in favor of the proposal, sparking a significant reaction from the Bitcoin community.
“ETH is centralized garbage. Bitcoin is freedom. Doing this would make you lose your entire Bitcoiner business, including mine,” Bitcoin maximalist Ron Sovereignty Swanson said in response.
Although it initially promised to “deliver on the results” of the social media survey, Steak ‘n Shake backtracked on the proposal to accept ETH.
“Survey suspended. Our loyalty is to Bitcoiners. You have spoken. Who allowed this? I’m back at my desk,” the company said on October 11, the same day the survey began.
In November, the company celebrated strong third-quarter sales, touting a 15% quarter-over-quarter increase in same-store sales.
Steak ‘n Shake managed to lead all other competitors in the fast food category in same-store sales increases in the third quarter, including McDonald’s, Burger King, Taco Bell and coffee shop Starbucks.
Magazine: Big questions: Did a time-travelling AI invent Bitcoin?
