In a notable move, the Indianapolis-based fast-food chain Steak ‘n Shake has announced a new compensation initiative for its hourly employees: a “Bitcoin bonus.” Each hourly worker at corporate locations will receive $0.21 in Bitcoin for every hour worked. The announcement, made via X (formerly Twitter), aims to demonstrate the company’s commitment to its employees.
However, this initiative comes with significant stipulations. According to the announcement, workers will have to endure a two-year vesting period before they can access their Bitcoin earnings. This means that employees must remain with the company for two full years to collect their bonus. While vesting periods are common in corporate compensation models, they are rare for positions typically associated with lower wages, such as those in fast food.
The financial impact of this bonus is negligible when considering the overall wage landscape. Assuming a standard work year of 2,080 hours, employees could potentially earn a total of $873.60 in Bitcoin after the two-year period—assuming the value of Bitcoin does not decline. Additionally, any fees incurred when converting the Bitcoin back into traditional currency could further diminish this amount.
Eligibility and Concerns Over Wage Stagnation
It’s important to note that employees at franchise locations will not be eligible for this bonus. As of June 2025, approximately 60 percent of all Steak ‘n Shake restaurants are franchised, according to food industry publication Tasting Table. This exclusion raises questions about the potential for the Bitcoin bonus to replace traditional wage increases or cost-of-living adjustments, especially as inflation continues to rise.
The announcement follows Steak ‘n Shake’s recent decision to hold $10 million worth of Bitcoin in its “strategic bitcoin reserve.” The company began accepting Bitcoin as payment for its products eight months ago, a move that aligns with its evolving corporate ethos.
Critics argue that the introduction of a cryptocurrency bonus could be a way to mask underlying issues regarding stagnant wages. Many workers in the service industry are already grappling with rising living costs, and the promise of a bonus paid in Bitcoin may not address their immediate financial needs.
As the fast-food landscape continues to evolve, it remains to be seen how initiatives like this one will impact employee satisfaction and retention. Stakeholders will likely scrutinize the effectiveness of such compensation strategies in the context of broader economic challenges.
