A proposal urging McDonald’s to incorporate Bitcoin into its corporate treasury has been met with mixed reactions. While conservative shareholders advocate for such an investment, the U.S. Securities and Exchange Commission (SEC) suggests the company can decide against it without facing consequences. The National Center for Public Policy Research, a group supporting this initiative, believes Bitcoin offers greater liquidity and potential growth compared to traditional assets like cash, bonds, or real estate. 💰
In their letter, the group argued that Bitcoin could be a more reliable store of value than conventional investments. Their proposal draws parallels with companies like MicroStrategy, which has invested heavily in Bitcoin under CEO Michael Saylor’s leadership, and GameStop’s recent $1.5 billion Bitcoin investment. However, not all investors are onboard; Microsoft shareholders rejected a similar proposal last December. 🚫
McDonald’s legal team reached out to the SEC requesting confirmation that the Bitcoin proposal could be excluded from its annual shareholder meeting in May. The SEC responded favorably, stating that the company’s ordinary business activities can potentially accommodate this change and suggest no sanctions if removed from voting documents. 🏛️
The SEC’s response clears the way for McDonald’s to move forward with the debate, although the fast-food giant remains cautious about fully incorporating cryptocurrency into its treasury. This suggests that companies are hesitant to embrace the volatile world of cryptocurrencies despite pressure from certain investors.
*This is not investment advice.*