Steak ‘n Shake has decided not to go ahead with plans to accept Ethereum
$4,160.77
as a form of payment.
This change in direction came after negative responses from its online followers, particularly those who support Bitcoin
$115,118.96
.
On October 11, the fast-food chain posted a poll on its X account asking if it should start accepting ETH. The poll attracted nearly 49,000 votes, with a slight majority in favor of the idea.
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However, within a few hours, the company took the poll down and stated it would stick with Bitcoin only. They said, “Poll suspended. Our allegiance is with Bitcoiners. You have spoken”.
The company began accepting Bitcoin payments on May 16 at locations where it is legally allowed, including in the United States, France, Monaco, and Spain.
It later reported a 15% rise in sales for the third quarter compared to the same period the previous year. The increase was partially credited to the support it received from the Bitcoin community.
The idea of accepting ETH was not well-received by many Bitcoin supporters. Adam Simecka, the developer of Bitcoin wallet Manna, stated in a post on X that he would no longer visit the restaurant if Ethereum were added.
Despite the negative response, Ethereum co-founder Vitalik Buterin argued that crypto-friendly businesses do not need to try to serve every group and should focus on building strong support from a specific community.
Square, a payment service by Block Inc., recently launched a feature enabling small US businesses to accept Bitcoin at checkout. How does it work? Read the full story.
