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Fast food chains are starting to do Coin Hoarding? Steak 'n Shake launches BTC treasury and burger promotion.
Fast food brother is also following the trend of Coin Hoarding. Steak 'n Shake announced the establishment of a special BTC reserve, storing all Bitcoin payments. This chain restaurant with a 90-year history launched a limited-time promotion at the end of last month - buying a “Bitcoin Steakburger” or “Bitcoin Meal” can earn a $5 BTC reward (claimed through the Fold app).
Core Data:
Interestingly , this restaurant was “educated” by the BTC community last month for wanting to accept Ethereum payments - nearly 49K people voted within 4 hours, with 53% supporting the addition of ETH, but due to public pressure, they directly called it off. It seems that the BTC community's “voice” is still quite strong.
What does this operation mean?
Business Perspective: BTC payments have indeed reduced costs for dining enterprises. Steak 'n Shake's financial report publicly disclosed a 50% reduction in expenses, which is a tangible optimization for a chain restaurant already facing tight profit margins. Additionally, the Q3 sales growth has exceeded expectations, indicating that BTC users are indeed contributing to store foot traffic.
Ecological Signal: Fold (FLD, listed on NASDAQ) promotes this type of cooperation as a BTC financial service provider, aiming to demonstrate that Bitcoin can be integrated into everyday consumption. This is an exploration from “store of value” to “payment tool” — although it still appears to be niche at the moment, the acceptance of each mainstream brand is educating potential users.
Risk: The volatility of BTC is still present. Coin hoarding in restaurants is betting on the appreciation of BTC, and a decline will drag down financial statements. Moreover, how long this kind of marketing hype can last is also a question - it may just be a fleeting traffic secret.
The current BTC price fluctuates around $83.7K.