McDonald's Shareholder Proposes Buying BTC, SEC States: Within Daily Operations and Does Not Require Shareholder Vote

By: blockbeats|2025/04/14 17:00:03
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Original Article Title: "McDonald's Considering Bitcoin Reserve? Shareholder Proposal: Real Estate Long-Term Potential Far Inferior to BTC, Management Has Responded"
Original Article Author: Joe, BlockTempo from DooPulse

McDonald's is set to hold a shareholder meeting next month, and a shareholder of the company — the American conservative think tank "National Center for Public Policy Research" — recently submitted a proposal suggesting that McDonald's include Bitcoin as a reserve asset in the company's financial report. However, it seems that this proposal has not received support from the company's management.

Conservative Think Tank Proposal: Real Estate Less Than Bitcoin

The shareholder of this global fast-food giant, the "National Center for Public Policy Research," proposed that McDonald's emulate some tech companies by incorporating Bitcoin (BTC) into its balance sheet. In the proposal letter, the center pointed out that while real estate has long been considered a better store of value than cash and bonds, its appreciation potential and liquidity are far inferior to Bitcoin.

They cited the classic quote from McDonald's former CFO and President Harry Sonneborn: "McDonald's is essentially a real estate company that happens to sell hamburgers," further emphasizing that McDonald's should consider a more growth-oriented asset allocation.

The proposal also warned: "More and more companies have included Bitcoin in their balance sheets. If McDonald's does not follow suit, it may fall behind in its original field of leadership."

McDonald's Remains Neutral, SEC Approval Not Discussed

However, McDonald's is not enthusiastic about this. The company's legal representative has sent a letter to the U.S. Securities and Exchange Commission (SEC), seeking confirmation that if they choose not to discuss this proposal at the upcoming shareholder meeting, whether the SEC will take any enforcement action.

The SEC formally responded at the end of last month, indicating support for McDonald's right to exclude the proposal from the shareholder meeting agenda and stating: "This proposal involves the company's day-to-day business operations and is not a significant matter requiring shareholder approval."

In other words, the SEC believes that the decision on whether to purchase Bitcoin falls within the scope of the company's daily operational decisions and therefore does not need to be subject to shareholder voting. This also means that McDonald's shareholder meeting next month is unlikely to discuss the proposal.

Corporate Embrace of Bitcoin as a Trend, But Differences of Opinion Remain

In fact, shareholders' desire for companies to acquire Bitcoin is not new. Since MicroStrategy founder Michael Saylor incorporated Bitcoin into the company's core asset allocation, the concept of a "Bitcoin reserve" has become a focus of research for many companies and has also helped the company's stock price soar.

However, not all companies are on board. Take Microsoft, for example. At the end of last year's shareholder meeting, a shareholder proposed allocating 1% of the company's total assets to Bitcoin, but the proposal was ultimately rejected by the board.

As cryptocurrency continues to move towards mainstream adoption, the question of whether and how companies will integrate digital assets into their financial strategies will become an unavoidable topic. McDonald's response in light of the SEC's ruling provides a useful case study for other companies facing similar proposals.

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