Conservative group urges McDonald's to buy bitcoin, SEC allows dismissal
McDonald’s opts out of Bitcoin treasury talks
A conservative shareholder group, led by the National Center for Public Policy, recently urged McDonald’s to consider integrating Bitcoin into its treasury operations.
In a proposal letter, the think tank argued that McDonald’s, often described by former CFO Harry Sonneborn as “a real estate company that happens to sell burgers,” is uniquely positioned to benefit from Bitcoin’s appreciation. The proposal emphasized that while real estate has historically been a reliable store of value, it does not match the potential gains and liquidity offered by Bitcoin. The group warned that if McDonald’s does not adopt such measures, the company could fall behind peers who are increasingly adding Bitcoin to their balance sheets.
SEC endorses McDonald’s right to dismiss
In response to the Bitcoin treasury proposal, McDonald’s legal representatives sought confirmation from the U.S. Securities and Exchange Commission (SEC) that the company could exclude the topic from discussion at its upcoming annual shareholders’ meeting in May. On March 28, the SEC confirmed that McDonald’s is within its rights to dismiss the proposal, stating that it relates to the company’s ordinary business operations. The SEC’s Division of Corporation Finance indicated that it would not recommend enforcement action if McDonald’s omits the proposal from its proxy materials. This outcome provides McDonald’s the regulatory cover to avoid what it considers a non-essential discussion, despite broader industry trends where firms like Strategy and GameStop have embraced Bitcoin treasury strategies.
Looking ahead
While conservative voices push for more aggressive crypto strategies, McDonald’s approach suggests a cautious stance towards volatility and operational focus. As the fast-food giant continues to prioritize its core business, the SEC’s endorsement may signal an evolving regulatory framework that permits companies to choose their own paths in digital asset adoption. Investors and industry observers will be watching closely to see how corporate crypto strategies evolve amid shifting market sentiment.
Read also: SEC highlights disclosure expectations for blockchain and tokenized assets
