Steak ‘n Shake has walked back its plan to accept Ether payments after facing pushback from Bitcoin supporters.
The U.S. fast-food chain had asked its 468,800 followers on X whether it should start accepting Ethereum (ETH), promising to honor the poll’s outcome. Out of nearly 49,000 votes, 53% supported the move. However, just four hours later, the company abruptly halted the poll following criticism from Bitcoin loyalists.
“Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ‘n Shake posted on X.
Bitcoin Loyalty Drives Steak ‘n Shake’s Sales Surge and Sparks ETH Backlash
Steak ‘n Shake began accepting Bitcoin payments on May 16 across all locations where it is legally permitted, including the United States, France, Monaco, and Spain.
In the third quarter, the fast-food chain reported a 15% year-on-year increase in same-store sales, crediting part of the growth to strong support from Bitcoin enthusiasts.
That loyalty was evident when many Bitcoiners criticized the company for even considering Ether as an additional payment option. “I promise, if you accept ETH, I will never eat at your restaurant again,” wrote Adam Simecka, the creator of Bitcoin self-custody wallet Manna.
The reaction underscored how deep crypto tribalism runs. Many Bitcoin supporters continue to see BTC as the only true digital money, echoing Michael Saylor’s famous remark, “There is no second-best crypto asset; there’s a crypto asset, and it’s called Bitcoin.”
Vitalik Buterin Praises Steak ‘n Shake’s Bitcoin-Only Approach
While some criticized Steak ‘n Shake for reversing its decision so quickly, the move received unexpected praise from Ethereum co-founder Vitalik Buterin. He suggested that businesses adopting crypto should focus on serving one dedicated community rather than trying to please everyone.
Adding to its Bitcoin-first stance, Steak ‘n Shake announced the launch of a new menu item, the “Bitcoin Steakburger”, set to debut on October 16 to celebrate its embrace of Bitcoin payments.
