Fold is revolutionizing the American dining scene by integrating Bitcoin through a new partnership. This collaboration offers a $5 Bitcoin reward with a specialty meal at around 400 Steak ‘n Shake locations, marking a first for U.S. restaurant chains.
Summary
- Fold has teamed up with Steak ’n Shake to offer $5 in Bitcoin rewards with select meals across 400 U.S. locations.
- This initiative is the first time a U.S. restaurant chain has directly tied meal purchases to Bitcoin rewards.
- Fold, which possesses nearly 1,500 BTC in its treasury, is expanding its Bitcoin reward ecosystem via apps, debit and credit cards, and new partnerships aimed at driving mainstream crypto adoption.
In a press release dated Oct. 31, Fold Holdings, based in Phoenix, announced its partnership with Steak ’n Shake, linking Bitcoin (BTC) rewards to everyday dining experiences. Customers purchasing a specially branded Bitcoin Meal or Bitcoin Steakburger will receive a $5 Bitcoin reward.
Participants need to upload their receipts to a dedicated website in order to obtain a unique code, redeemable through the Fold app. This limited-time offer, applicable at approximately 400 Steak ‘n Shake locations, is the first instance of a U.S. restaurant chain bundling meal purchases with Bitcoin rewards, moving past the mere acceptance of crypto payments.
“Bitcoin goes mainstream when it starts showing up in everyday life,” stated Fold CEO Will Reeves. “That has been our vision from the outset, and our promotion with Steak ’n Shake represents another step toward achieving that. For many, this will be their first ownership of Bitcoin, coming from something as commonplace as buying a burger. That’s what true adoption looks like.”
Fold’s Innovative Approach to Bitcoin Integration
Fold announced that the campaign launched on October 31, adopting a “while supplies last” model, which is standard for the restaurant sector but refreshing for crypto reward distribution. This strategy creates urgency while allowing Fold to effectively assess consumer reactions and manage the initiative’s scope.
This move into casual dining aligns seamlessly with Fold’s ongoing strategy. Publicly traded since earlier this year, the company has dedicated itself to creating financial tools that yield Bitcoin rewards from everyday transactions.
Key products include a dedicated app and a debit card that serves as a crypto alternative to traditional cash-back cards. Recently, Fold expanded its offerings with a Visa credit card powered by Stripe Issuing, further integrating BTC earning into daily financial activities.
Underpinning this consumer-friendly approach is a financial foundation that reflects Fold’s commitment to Bitcoin. With nearly 1,500 BTC in its treasury, the company’s confidence in Bitcoin goes beyond marketing. To support this strategy, Fold secured a $250 million equity purchase facility in June, equipping it with the capital necessary for aggressive growth in both its treasury and operational capabilities.
