Bitcoin Magazine

Steak ’n Shake Adds $10 Million in Bitcoin to Corporate Treasury

Popular fast-food chain Steak ’n Shake added $10 million worth of bitcoin to its corporate treasury, deepening its commitment to bitcoin eight months after rolling out BTC payments across all U.S. locations.

The company said on social media that the move follows a “self-reinforcing cycle” driven by bitcoin adoption, where customers paying in BTC help generate incremental revenue that is then recycled into business improvements. 

According to Steak ’n Shake, all bitcoin-denominated revenue flows directly into what it calls its strategic bitcoin reserve, which is used to fund restaurant upgrades, ingredient improvements, and remodeling initiatives—without raising menu prices.

“Eight months ago today, Steak ’n Shake launched its burger-to-bitcoin transformation when we started accepting bitcoin payments,” the company wrote on social media. “Our same-store sales have risen dramatically ever since.”

Steak ’n Shake began accepting bitcoin payments in May 2025 using the Lightning Network, positioning the rollout as a way to cut card processing fees while attracting a younger, crypto-native customer base. The strategy is working.

Same-store sales rose more than 10% in the second quarter of 2025, according to the company.

Chief Operating Officer Dan Edwards previously said Steak ’n Shake saves roughly 50% in processing fees when customers choose to pay with bitcoin rather than traditional card networks.

NEW: Fast food giant Steak 'n Shake announces it acquired $10 million #Bitcoin for its Strategic Bitcoin Reserve

"All Bitcoin sales go into our Strategic Bitcoin Reserve." pic.twitter.com/tRlYaOzbtQ

— Bitcoin Magazine (@BitcoinMagazine) January 17, 2026

Bitcoin is driving revenue for Steak ’n Shake

The chain has leaned into its bitcoin branding over the past year, introducing a Bitcoin-themed burger in October and pledging to donate a small portion of revenue from its “Bitcoin Meal” to support open-source Bitcoin development.

The recent $10 million purchase—roughly 105 BTC at current prices—marks Steak ’n Shake’s most direct treasury allocation to bitcoin to date. 

While the position is modest compared with major corporate holders such as Strategy, which holds more than 687,000 BTC worth over $65 billion, it underscores a broader trend of corporate bitcoin accumulation.

According to data from Bitcointreasuries, total bitcoin held in treasuries—including public companies, private firms, governments, and exchange-traded funds—has now surpassed 4 million BTC.

Last fall, the company ran a poll on X over the weekend asking its 468,800 followers whether it should expand its crypto options to include Ethereum.

Nearly 49,000 votes were cast, with 53% in favor.

However, just four hours later, the company suspended the poll, declaring its allegiance to Bitcoiners. “Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” Steak ‘n Shake posted.

This post Steak ’n Shake Adds $10 Million in Bitcoin to Corporate Treasury first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

U.S. Government Denies Sale of Forfeited Samourai Wallet Bitcoin, Says BTC Will Remain in Strategic Bitcoin Reserve

Members of the U.S. government have denied reports that bitcoin forfeited by Samourai Wallet developers was liquidated in violation of President Trump’s executive order mandating the retention of government-held bitcoin.

In a brief statement on X on January 16, Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets and Deputy Director at the Department of War’s Office of Strategic Capital, said the Department of Justice (DOJ) has confirmed that the forfeited digital assets “have not been liquidated and will not be liquidated” pursuant to Executive Order 14233. 

According to Witt, the bitcoin will remain on the U.S. government’s balance sheet as part of the Strategic Bitcoin Reserve (SBR).

“We have received confirmation from DOJ that the digital assets forfeited by Samourai Wallet have not been liquidated and will not be liquidated,” Witt said. “They will remain on the USG balance sheet as part of the SBR.”

The clarification follows reporting by Bitcoin Magazine earlier this month that raised questions about whether the U.S. Marshals Service (USMS), acting under DOJ direction, had sold approximately 57.55 bitcoin — worth roughly $6.3 million at the time — using Coinbase Prime in November 2025. 

That reporting cited an “Asset Liquidation Agreement” and on-chain data suggesting the forfeited bitcoin may have been transferred directly to a Coinbase Prime address that later showed a zero balance, fueling speculation that the assets had already been sold.

BREAKING: President Trump Executive Director says the government has not sold any bitcoin forfeited by Samourai Wallet and the bitcoin will NOT be sold.

The bitcoin will be added to the US strategic reserve. pic.twitter.com/80vZymPmqK

— Bitcoin Magazine (@BitcoinMagazine) January 16, 2026

The Samourai BTC will stay in the Strategic Bitcoin Reserve

If true, such a sale would have potentially violated EO 14233, which explicitly states that bitcoin acquired by the U.S. government through criminal or civil forfeiture “shall not be sold” and must instead be retained as part of the Strategic Bitcoin Reserve. 

The executive order was designed to reverse the long-standing practice of liquidating seized bitcoin and to formally recognize bitcoin as a strategic reserve asset of the United States.

The Samourai Wallet case has been closely watched within Bitcoin and crypto policy circles, not only because of the forfeiture issue but also due to broader concerns about continued prosecutions of developers of noncustodial software. 

Samourai developers Keonne Rodriguez and William Lonergan Hill pleaded guilty and were charged in 2025 to conspiracy to operate an unlicensed money transmitting business, a charge critics argue is incompatible with the noncustodial nature of the software.

Those concerns have been heightened by what many view as inconsistencies between DOJ actions and guidance issued under the Trump administration, including Deputy Attorney General Todd Blanche’s April 2025 memo calling for an end to “regulation by prosecution” of noncustodial crypto tools, according to Bitcoin journalist Frank Corva. 

If true, the administration’s confirmation that the Samourai bitcoin remains intact and earmarked for the Strategic Bitcoin Reserve will likely be seen as a win for proponents of the bitcoin industry. 

This post U.S. Government Denies Sale of Forfeited Samourai Wallet Bitcoin, Says BTC Will Remain in Strategic Bitcoin Reserve first appeared on Bitcoin Magazine and is written by Micah Zimmerman.