Steak ‘n Shake to Pay Employees in Bitcoin, Starting March 1

In Brief

• Steak ‘n Shake to pay hourly workers $0.21 in Bitcoin per hour starting March 1.
• Bitcoin bonus will vest after two years, totaling $436 annually for full-time employees.
• Bitcoin price declines as BTC trades at $88,732, down 6.76% over the past week.

Steak ‘n Shake has announced that it will start paying hourly employees a Bitcoin bonus of $0.21 for each hour worked, beginning March 1, 2026. 

The company has partnered with Bitcoin rewards app Fold to manage these payouts, marking another step in its strategic shift towards adopting Bitcoin as part of its operations. 

According to CEO Will Reeves, this is a part of the company’s broader vision to “become a real bitcoin company, putting sound money into the hands of working Americans.”

Bitcoin Bonus to Encourage Long-Term Employment

The Bitcoin bonus will be paid on top of hourly wages and will not replace standard pay. However, the funds are subject to a two-year vesting period, meaning employees will not be able to access the Bitcoin until they have completed two years of continuous employment with the company. 

For a full-time worker, this amounts to about $8.40 in Bitcoin per week, or $436 annually, assuming no changes to hours worked.

While the bonus is designed to incentivize long-term employment, it has sparked criticism due to its relatively small value. Critics argue that the $0.21 per hour bonus represents a marginal increase in income for employees already earning minimum wage, and the two-year wait may be impractical given Bitcoin’s volatility.

Despite this criticism, others view the bonus as an innovative way to introduce hourly workers to cryptocurrency. 

The program is also part of a larger strategy that includes the company’s recent $10 million Bitcoin purchase. This aligns with Steak ‘n Shake’s ongoing move towards incorporating Bitcoin into its corporate treasury and operations.

Bitcoin Price Declines Amid Market Pressures

Meanwhile, at the time of writing, Bitcoin (BTC) is trading at $88,732.15, down 2.34% over the past 24 hours. The price has dropped by 6.76% in the last week, reflecting broader market volatility. 

With concerns over economic uncertainties and inflationary pressures, Bitcoin’s price continues to experience downward movement, impacting both retail and institutional confidence in the market.