Steak ‘n Shake has walked back plans to potentially accept Ether payments after backlash from Bitcoin enthusiasts who opposed the fast-food chain’s move beyond BTC.
On Saturday, the company asked its 468,800 followers on X whether it should start accepting Ether, pledging to “abide by the results of the poll.” While 53% of the 48,815 respondents voted “Yes,” the poll was taken down roughly four hours later following criticism.
“Poll suspended. Our allegiance is with Bitcoiners. You have spoken,” the brand later announced on X.
Steak ‘n Shake began accepting Bitcoin payments on May 16 across all locations where legally permitted, including the United States, France, Monaco, and Spain.
In the third quarter, the chain reported a 15% year-over-year increase in same-store sales, crediting part of the growth to strong support from the Bitcoin community.
That’s why many Bitcoiners were quick to criticize the company for even considering expanding its crypto payment options beyond Bitcoin.
“I promise, if you accept ETH, I will never eat at your restaurant again,” said Adam Simecka, creator of the Bitcoin self-custody wallet Manna.
“The fact that you even created the ETH poll is disappointing,” wrote a user named Colleen, also known as The Bitcoin Gal. Bitcoin developer Carman was among several who argued the poll had damaged Steak ‘n Shake’s reputation.
The episode underscores that Bitcoin and crypto tribalism are still very much alive. Many Bitcoiners see BTC as the ultimate form of money — echoing Michael Saylor’s famous remark: “There is no second-best crypto asset. There’s a crypto asset, and it’s called Bitcoin.”
Interestingly, Ethereum co-founder Vitalik Buterin defended Steak ‘n Shake’s decision. While some criticized the chain’s abrupt reversal, Buterin argued that businesses embracing crypto are often better off aligning with one community rather than trying to cater to everyone at once.
“We need the stubborn ones who believe in their cause and their tribe and see their work as a labor of love to it.”
Last week, Steak ‘n Shake also announced that it is launching the “Bitcoin Steakburger” on Oct. 16 to celebrate the company’s adoption of Bitcoin.
