Will McDonald's Buy Bitcoin? The Company's Decision Supported by SEC! - Coin Bulletin

McDonald’s decided not to address a shareholder's proposal to acquire Bitcoin at the annual general meeting, and this decision was also approved by the SEC.

McDonald’s rejected the proposal to acquire Bitcoin from a shareholder at its annual general meeting. The SEC (SEC) stated that the fast food giant has the right to make this decision.

The proposal in question was put forward by the National Center for Public Policy, a conservative think tank and McDonald’s shareholder. In a letter sent to McDonald’s management, the organization suggested that the company consider Bitcoin as a reserve asset. The letter stated, "McDonald’s is seen as more of a real estate company than a burger chain. However, Bitcoin has greater potential for value appreciation and is a much more liquid asset."

Support from SEC to McDonald's

McDonald’s legal team applied to the SEC to prevent the proposal from being discussed at the general assembly. In an official response dated March 28, the SEC stated that the company has the right to remove this proposal from the meeting agenda:

"It seems that the proposal relates to the company's ordinary operations. Therefore, we will not propose any sanctions regarding the company's decision to remove the proposal from the power of attorney documents."

Shareholder requests related to Bitcoin are increasing.

McDonald's is not the first company to reject the acquisition of Bitcoin. Previously, Microsoft shareholders had also rejected a similar proposal. On the other hand, GameStop announced that it had raised $1.5 billion for Bitcoin acquisition last December.