Fold partners with Steak ’n Shake for new Bitcoin Burger rewards program
Quick Take
- Fold, which trades under the ticker FLD, allows users to earn bitcoin cashback on everyday purchases at select retailers.
- Steak ‘n Shake debuted its so-called Bitcoin Burger earlier this month, wherein the bun is stamped with a Bitcoin logo.
Bitcoin rewards company Fold Holdings (ticker FLD) is partnering with Steak 'n Shake for a limited-time offer that gives customers the chance to earn BTC when ordering from the popular fast-food outlet.
Beginning Friday, customers who purchase a Bitcoin Burger or Bitcoin Meal can visit bitcoinmealdeal.com, upload their receipt, and receive a unique code redeemable for $5 in bitcoin through the Fold app. After downloading the Fold app and activating an account, users can redeem their $5 bitcoin reward and start earning bitcoin on future purchases.
Steak 'n Shake debuted its so-called Bitcoin Burger earlier this month, wherein the bun is stamped with a Bitcoin logo.
"Bitcoin goes mainstream when it starts showing up in everyday life," said Fold Chairman and CEO Will Reeves. "That's been our vision from the beginning and our promotion with Steak 'n Shake is the next step in that journey. For many people, this will be the first time they ever own bitcoin, and it will come from something as ordinary as grabbing a burger."
In a case of some odd historical significance, then-Republican presidential candidate Donald Trump made his first purchase using bitcoin by buying a round of cheeseburgers at New York's bitcoin-themed PubKey Bar in September 2024.
Fold allows users to earn bitcoin cashback on everyday purchases at retailers like Amazon. It also offers a debit card that provides bitcoin rewards on transactions. Last month, for example, the company unveiled a Visa credit card powered by Stripe Issuing that will pay bitcoin rewards on purchases.
Fold went public earlier this year through a merger with Nasdaq-listed firm FTAC Emerald Acquisition Corp. The company has a market cap just shy of $200 million, according to The Block's FLD price data.
In June, Fold secured a $250 million equity purchase facility to expand its corporate bitcoin treasury. The company currently holds approximately 1,500 BTC in its treasury.
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