Original title: "McDonald's also wants to buy Bitcoin reserves? Shareholder proposal: Long-term potential of real estate is far less than BTC, management has responded"

Original author: Joe, Dongqu Dongqu BlockTempo

McDonald's will hold a shareholder meeting next month. The company's shareholder, 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 its financial reports. However, the proposal does not seem to have the support of the company's management.

Conservative Think Tank Proposes: Real Estate is Not as Good as Bitcoin

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

They quoted the classic saying of former McDonald's CFO and President Harry Sonneborn: "McDonald's is actually a real estate company that just happens to sell hamburgers," further emphasizing that McDonald's should consider asset allocation with greater growth potential.

The proposal also warns: "An increasing number of companies have included Bitcoin in their balance sheets, and if McDonald's does not follow suit, it may fall behind in its original leading field."

McDonald's retains its stance, SEC approval does not discuss

However, McDonald's is not keen on this. The company's legal representatives have sent a letter to the U.S. Securities and Exchange Commission (SEC) seeking confirmation on whether the SEC would take any enforcement action if they choose not to discuss this proposal at the upcoming shareholder meeting.

The SEC officially responded at the end of last month, stating that it supports McDonald's right to exclude the proposal from the agenda of the shareholders' meeting, and pointed out: "The proposal relates to the company's daily business operations and is not a significant matter that must be submitted for shareholder vote."

In other words, the SEC believes that the decision to purchase Bitcoin falls within the scope of the company's management's daily operational decisions, and therefore does not require a mandatory vote by shareholders. This also means that McDonald's shareholder meeting next month is unlikely to discuss this proposal.

Companies Embrace Bitcoin as a Trend, but Opinions Remain Divided

In fact, it is no longer new for shareholders to hope that companies will purchase Bitcoin. Since MicroStrategy founder Michael Saylor incorporated Bitcoin into the company's core asset allocation, "Bitcoin reserves" have become a direction of research for many companies, and it has also helped the company's stock price soar.

However, not all companies are willing to pay. Taking Microsoft as an example, at the shareholders' meeting at the end of last year, a shareholder proposed to invest 1% of the company's total assets in Bitcoin, but it was ultimately rejected by the board.

As cryptocurrencies continue to move towards mainstream adoption, whether and how companies will incorporate digital assets into their financial strategies will become a topic that cannot be ignored. McDonald's response to this and the SEC's ruling also provide a case that other companies with similar proposals can learn from.

Original link

：