McDonald’s Corp. (NYSE:MCD) may snub repeated calls from Dogecoin (CRYPTO:DOGE) for adoption, but it looks like another fast food chain has taken a cryptocurrency step to the top.
What happened: Shake Shack Inc.. (NYSE: SHAK) offers Bitcoin (CRYPTO:BTC) rewards purchases made in the burger chain using Block Inc. (NYSE: SQ) Cash App, The Wall Street Journal reported Thursday, citing the company’s chief financial officer.
Customers will receive 15% of their purchase in the form of Bitcoin using Cash’s debit card or through Cash Boost, a rewards program, according to the report. The offer is available until mid-March.
See also: How to buy Bitcoin (BTC)
Why is this important: The move is part of Shake Shack’s efforts to attract younger customers and test whether they are interested in more cryptocurrency payment options, Shake Shack chief financial officer Amrita Ahuja told the WSJ.
The New York-based company operates 240 outlets in the United States and more than 125 international locations.
Over the past year, several companies have adopted cryptocurrencies as a mainstream payment option. Big names like Block, Tesla Inc. (NASDAQ: TSLA) and MicroStrategy Inc. (NASDAQ: MSTR) even put some of their cash reserves into Bitcoin.
Jack Dorsey is a big supporter of Bitcoin. Block, the fintech company he founded, allows US users to invest in stocks or bitcoin using the Cash app.
price action: Shake Shack closed down 2.5% in Thursday’s regular trading session at $71.62 and slipped further to $71.00 after the bell.
Bitcoin has lost 5.3% in the past 24 hours, trading at $41,430.47 at press time.
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