Steak ’n Shake Backtracks later than Ether Poll Sparks Backlash from BTCers
The popular quick food company Steak ‘n Shake sparked a heated controversy in the crypto community when it suggested accepting ETH (ETH) payments through a . Almost 49,000 people voted in the poll on X (previously Twitter), and a small majority voted for Ether. But the company’s experiment with expanding payments was swiftly stopped by a strong outcry from BTC advocates, and the project was put on hold just a few hours later than it begined.
BTC Supporters Fight Ether Growth
Though the poll favored ETH, Steak ‘n Shake stuck with its BTC-only approach. “Poll suspended,” the company . “We stand with BTCers.”
This showed how committed they are to BTC, which has been accepted at its outlets in the US, France, Monaco, and Spain since May 16. the author of the Manna BTC wallet, and developer , both significant figures in the BTC industry, said they were disappointed and warned that adding Ether could turn off the brand’s existing customers.
Tribalism in Crypto: Risks and Brand Loyalty
The argument highlighted the deep tribal splits between and ETH supporters. BTC maximalists believe BTC is the “purest” form of decentralized money, whereas ETH advocates highlight the flexibility of its smart contracts and technologies.
Vitalik Buterin, one of the co-founders of , spoke out and praised Steak ‘n Shake for being willing to work with only one crypto tribe. This shows that brand loyalty and division are just as strong in digital assets as they are in other industries.
Effect on Business: More Sales and New Products
Steak ‘n Shake’s commitment to only accepting BTC has led to measurable company development. For example, identical-store sales grew by 15% year over year in Q3, partly thanks to the passionate support from . The brand is going to release a “BTC Steakburger” on October 16. This will strengthen its BTC-focused marketing and make it even more connected to the crypto community.
Things To Learn About Adopting Crypto and Brand Strategy
This episode serves as a timely reminder that businesses viewking to accept crypto payments must be cautious about tribal loyalties and community expectations. Steak ‘n Shake’s story shows that trying to be innovative, like offering flexible payment options, might risk losing key followers in very passionate crypto tribes.
Steak ‘n Shake has improved its relationship with committed BTCers by making it clear that it exclusively supports BTC. This also sets an example for other firms considering adding BTC to their payment options in the rapidly evolving world of .
