McDonald’s has officially declined a shareholder proposal urging the company to invest in Bitcoin, a move that has sparked debate about corporate cryptocurrency adoption.
The proposal, suggested by the National Center for Public Policy Research (NCPPR), a conservative think tank argued that Bitcoin could offer liquidity and growth potential far beyond traditional assets like cash, bonds, or even real estate.
The NCPPR’s proposal framed McDonald’s as a real estate company that happens to sell burgers, echoing sentiments from former CFO and Chairman Harry Sonneborn. The group claimed that while real estate has been a reliable store of value, it lacks the potential for appreciation and liquidity that Bitcoin provides.
NCPPR also argued that as more and more companies add Bitcoin to their balance sheets, Mcdonalds might very well fall behind if they do not follow suit.
The proposal cited the success stories of MicroStrategy, which has seen its treasury grow significantly through continuous Bitcoin investments, and GameStop, which recently raised $1.5 billion to purchase the cryptocurrency.
This trend started following Trump's victory over Joe Biden in last November's U.S Presidential Election, where the price of BTC reached an all-time high.
But it seems that not everyone is open to the idea. Just last December, Microsoft shareholders rejected a similar proposal, reflecting the mixed reception of cryptocurrency adoption among major companies.
After receiving the proposal, McDonald’s legal team sought confirmation from the U.S. Securities and Exchange Commission (SEC) that it could exclude the idea from discussion at its annual shareholder meeting in May.
To which the SEC argued that investment decisions fall under its “ordinary business operations” and are not suitable for shareholder votes.
In a letter dated March 28, the SEC agreed with McDonald’s position. “There appears to be some basis for your view that the company may exclude the proposal,” the agency wrote. “In our view, the proposal relates to the company’s ordinary business operations. Accordingly, we will not recommend enforcement action to the commission if the company omits the proposal from its proxy materials.”
This decision effectively allowed McDonald’s to sidestep any public discussion of Bitcoin at its upcoming shareholder meeting, reinforcing its focus on traditional financial strategies over speculative digital assets.
The rejection highlights broader hesitations among corporations when it comes to adopting cryptocurrencies like Bitcoin. While companies such as MicroStrategy and Tesla have embraced Bitcoin as part of their financial strategies, others remain cautious due to its volatility and regulatory uncertainty.
The NCPPR warned that by avoiding Bitcoin adoption, McDonald’s risks falling behind competitors who are diversifying into digital assets. However, analysts suggest that McDonald’s decision reflects its conservative approach to financial management and prioritization of core business operations over speculative ventures.
McDonald’s rejection of the Bitcoin proposal underscores the ongoing debate about cryptocurrency’s role in corporate treasuries. While some companies see Bitcoin as a strategic asset with high growth potential, others remain wary of its risks and regulatory challenges.
As cryptocurrency continues to gain traction globally, proposals like this may become more common at shareholder meetings across industries. However, McDonald’s decision signals that many traditional corporations are still hesitant to embrace digital assets despite their growing prominence in financial markets. For now, it seems the golden arches will remain firmly rooted in traditional strategies rather than venturing into the volatile world of crypto investments.
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