Customers of Bubba Gump Shrimp and Morton’s The Steakhouse will soon be able earn rewards bitcoin every time they buy a steak – or a beer.

Landry’s restaurant chain is teaming up with NYDIG, a crypto custody company to run a program that rewards customers for their loyalty in bitcoin. The 500 locations are located across the nation. For every dollar spent at Landry’s, diners receive a point. 250 points translate to $25 in bitcoin.

Bitcoin hit a new record of more than $68,500 Monday, an increase of nearly 350% over the year.

“Many Americans aren’t yet bitcoin owners because they don’t feel comfortable creating accounts on an exchange, or because they don’t know how to invest their money.” Patrick Sells is Chief Innovation Officer at NYDIG.

Sells added, “And now, they’re just able to say, Hey! Let me get exposure through dining at a place I love or going to a new location.’

CNBC has Landry’s telling them that it hopes to launch the new Bitcoin program by Thanksgiving. It will be available to the 3.2 million members of Landry’s loyalty program – Landry’s Select Club.

Trey Zeluff (Director of Digital Asset Strategy, Landry’s) said that “this is a fantastic way to play without really placing anything at risk.”

Zeluff stated that the program’s purpose is to provide customers with “comfort in the volatility of bitcoin” by allowing them to watch their points increase and fall in buying power.

Zeluff continued, “With our legacy points system, their values were static and in the context inflation, they could even decline.”

Landry’s also has a bitcoin bet.

Although the company intends to keep a part of its Treasury reserves in Bitcoin through NYDIG it won’t disclose how much.

Tilman Fertitta (CEO and chairman of Landry) has long been bullish about bitcoin. His NBA team takes bitcoin among other cryptocurrenciesYou can shop at the official website, as well Fertitta’s luxury car dealership Houston that sells Rolls-Royces and Bentleys. accepted the digital coin since 2018

It’s incredible how easy the transaction can be, and it will stay. It’s here, it’s where it is and it was inevitable that it would happen.” Fertitta previously told CNBC

Fertitta offers loans that are backed by bitcoin for people who do not want to sell their crypto shares in order to purchase a vehicle.

According to accountants, people who choose to transact with any cryptocurrency need to be cautious.

Virtual currencies such as bitcoin are treated by the Internal Revenue Service as propertyThis means that bitcoin can be spent in the same way as it is sold.

Shehan Chandrasekera is a CPA, head of tax strategy and a CPA. CoinTracker.ioA digital currency tax software firm that assists clients to track and manage crypto through virtual wallet addresses.

The cost basis is always less than the current market price. This difference could trigger income capital gains tax, as well as other taxes such sales tax.