Despite the growing interest of companies in cryptocurrencies, McDonald’s has chosen a firm stance against purchasing Bitcoin. While other large companies, like GameStop, are stockpiling the queen of cryptocurrencies, the famous fast-food chain does not even want to consider such a possibility.
A decision that has sparked protests among some shareholders but has ultimately received full approval from the Securities and Exchange Commission (SEC).
Summary
McDonald’s shareholders ask: “Let’s invest in Bitcoin!”
Everything started with a letter sent to the management of McDonald’s by the National Center for Public Policy, a conservative think tank that holds shares in the group. In this letter, the center analyzes the company’s financial position, highlighting how McDonald’s is perceived more as a real estate company that sells hamburgers rather than just a simple restaurant chain.
According to the center, real estate investment, although historically solid, does not offer the growth potential and liquidity that Bitcoin would guarantee. The letter clearly states how several companies are already moving in this direction, and that McDonald’s risks “falling behind” the market if it does not follow the trend.
“Real estate has been a more reliable store of value compared to cash or bonds, but it will not grow over time as much as Bitcoin, nor is it as liquid as Bitcoin”,
recites a passage from the document.
Essentially, these shareholders believe that allocating part of the company funds into criptovalute can represent a strategy of smart diversification and a way to strengthen the group’s finances in the long term.
McDonald’s response: no opening to Bitcoin or other cryptocurrencies
The reaction of McDonald’s management was not long in coming. Strong in its position, the restaurant giant decided to categorically refuse the request. But it also did more: it sought the opinion of the SEC to obtain authorization to exclude the topic from the official discussion scheduled for the next annual shareholders’ meeting, which will be held in May.
The representatives of the company explained to the regulator that the purchase of Bitcoin fully falls within the ordinary operational activities of the group and therefore the proposal does not deserve a debate during an event of this magnitude.
The SEC confirms: McDonald’s can ignore the proposal
With a letter dated March 28, the SEC gave full support to McDonald’s position. Specifically, the regulatory agency stated that, in its view, the purchase of cryptocurrencies falls within the scope of the company’s usual business activities. Consequently, McDonald’s has the authority to exclude this proposal from the agenda of the annual meeting.
In the official document, the SEC states: “We will not recommend any enforcement action if the company omits the proposal from its proxy materials.” A phrase that, in essence, completely legitimizes the decision of the company not to consider the possibility of investing in Bitcoin.
An evolving scenario: GameStop invests 1.5 billion dollars in BTC
While McDonald’s closes the doors to Bitcoin, other companies are instead enthusiastically turning to the world of cryptocurrencies. This is the case of GameStop, which recently announced its intention to purchase 1.5 billion dollars in BTC. A bold move that demonstrates how more and more companies see digital currencies as a new frontier of investment.
This contrast highlights two radically different approaches: on one side the cautious and conservative approach of McDonald’s, on the other the experimental and proactive approach of companies like GameStop, which see BTC as a strategic opportunity rather than a risk to avoid.
The debate remains open, but McDonald’s for now sticks to its line
Despite the intervention of conservative shareholders and the growing collective interest in cryptocurrencies, McDonald’s maintains a net closing position on this front. The decision has been secured by the validation of the SEC, which currently excludes any possibility of discussion on the topic.
It is clear that, at least in the short term, we will not see Bitcoin in the balance sheets of the fast food giant.
However, the issue is far from closed in the long term. The landscape of corporate investments in cryptocurrencies is constantly evolving, and what today appears as science fiction could become a routine in the near future. But until then, in McDonald’s menu there will be no place for Bitcoin.
