Fold & Steak ‘n Shake Launch Bitcoin Burger Rewards

The partnership between Fold and Steak ‘n Shake enables customers to earn cryptocurrency simply by enjoying a meal. Those who purchase either the Bitcoin Steakburger or the complete Bitcoin meal can claim $5 in BTC by uploading their receipt at bitcoinmealdeal.com. The rewards are then accessible through the Fold app, creating a seamless bridge between traditional dining and digital currency acquisition.

This promotion builds on previous collaborations between the two companies, including an earlier initiative that provided Bitcoin rewards for Steak ‘n Shake gift card purchases through the Fold app. The current offer represents a more direct integration, with the Bitcoin Steakburger itself featuring the iconic Bitcoin logo stamped onto the top bun, celebrating the five-month anniversary of Bitcoin payments being accepted at the restaurant chain.

Fold founder and CEO Will Reeves emphasized that this partnership represents just the beginning of a broader strategy to normalize Bitcoin in everyday commerce. “This is the first in a series of mainstream partnerships we plan to roll out, all focused on showing how Bitcoin can fit naturally into everyday spending,” Reeves told Decrypt. The executive highlighted Fold’s existing integration across retail, dining, and lifestyle brands through their gift card marketplace.

The company’s approach focuses on making Bitcoin acquisition “simple, safe, and rewarding” for consumers who might otherwise find cryptocurrency intimidating. By embedding Bitcoin rewards into familiar consumer activities like dining out, Fold aims to demonstrate the practical utility of digital currencies beyond speculative investment. The strategy appears aligned with Steak ‘n Shake’s own crypto journey, as the restaurant chain has attributed some of its year-over-year sales growth to the Bitcoin community.

Notably, Steak ‘n Shake had considered expanding beyond Bitcoin to include Ethereum payment options but scrapped those plans following backlash from the Bitcoin community. This decision underscores the restaurant chain’s commitment to the Bitcoin ecosystem specifically, rather than cryptocurrency broadly.

While the partnership announcement represents positive momentum for Bitcoin adoption, the market performance of Fold’s stock tells a different story. Shares in FLD are down approximately 3.5% on the day of the announcement and have declined around 68% year-to-date, currently trading at $3.59. This contrasts with Bitcoin’s recent performance, which has started rebounding in the last 24 hours with a 1% increase to $108,737.

Fold operates as a Bitcoin financial services firm, offering a debit card product that provides Bitcoin rewards on everyday purchases. The company is also planning the release of a Bitcoin credit card, with an open email waitlist already established. Since going public on the Nasdaq under the ticker FLD in February, the company has faced significant market headwinds despite its innovative approach to cryptocurrency integration.

The divergence between Fold’s stock performance and Bitcoin’s price movement highlights the challenges facing companies in the crypto services sector, even as underlying digital assets show strength. As Fold continues to expand its partnership network and product offerings, investors will be watching to see if these strategic moves can translate into improved financial performance and stock valuation.