Bitcoin Updates Today: Enjoy Bitcoin with Your Meal: Steak 'n Shake Offers Crypto Rewards for Every Order

Fold Holdings (NASDAQ: FLD) has introduced a special rewards campaign in collaboration with Steak 'n Shake, giving customers $5 worth of

(BTC) when they purchase Bitcoin-themed menu items, as reported by . Announced on October 31, the promotion lets customers upload receipts from Bitcoin Burger or Bitcoin Meal purchases at to get a redemption code through the Fold app, according to . Afterward, users can redeem their Bitcoin reward and keep earning BTC on future buys with Fold’s platform, which features a debit card and a Visa credit card that offer Bitcoin rewards, The Block noted.

This collaboration represents another move toward bringing Bitcoin into everyday retail. "Bitcoin becomes part of daily life when it’s used in routine activities," said Fold CEO Will Reeves, highlighting that many people will own Bitcoin for the first time simply by buying a meal, The Block shared. Steak 'n Shake, which launched its Bitcoin Burger in October featuring a bun stamped with the Bitcoin logo, has been actively supporting Bitcoin since it began accepting Lightning Network payments in May 2025, Yahoo Finance stated. The fast-food chain has about 400 locations across the U.S., and the offer is available at all participating restaurants, Yahoo Finance added.

Fold, which became publicly traded in February 2025 after merging with FTAC Emerald Acquisition Corp., currently has a market value of around $180 million and holds 1,500 BTC in its corporate reserves, The Block reported. The company recently obtained a $250 million equity purchase agreement to boost its Bitcoin assets, with the funds aimed at increasing its treasury, according to

. In September 2025, Fold also rolled out a Visa credit card that gives Bitcoin rewards for purchases and introduced a Bitcoin gift card program in partnership with , as detailed by StockTitan ( ).

The Steak 'n Shake partnership fits into Fold’s larger mission to connect traditional banking with digital currencies. In Q2 2025, the company reported $8.2 million in revenue—a 59% increase from the previous year—and saw transaction volume jump 124% to $265 million, according to StockTitan. Despite an adjusted EBITDA loss of $4.7 million, Fold’s active user count exceeded 615,000, showing rising interest in user-friendly Bitcoin services, StockTitan noted.

Adding a historical note, Donald Trump made his first Bitcoin purchase in September 2024 by buying cheeseburgers at PubKey Bar in New York, a Bitcoin-themed establishment, The Block reported. This story highlights the shift in how Bitcoin is viewed—from a speculative investment to a usable currency.

Some critics point out the difficulties in expanding Bitcoin’s use, especially after Steak 'n Shake faced criticism for previously considering

(ETH) payments. Nevertheless, the chain’s ongoing focus on Bitcoin, along with Fold’s growing product lineup, demonstrates their dedication to the crypto space, Yahoo Finance observed.

Fold’s latest financial strategies—including the $250 million equity facility reported by CoinDesk and a $3 million increase in marketing spending noted by StockTitan—reflect strong belief in Bitcoin’s future role. With the rewards campaign available only while supplies last, this partnership may help further establish Bitcoin as a practical option for everyday spending, Yahoo Finance added.