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Could Bitcoin soon end up in McDonald’s treasury?

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Update on : April 22, 2025

Could McDonald’s, the global fast-food giant, soon include Bitcoin in its corporate treasury? This question was raised by a group of shareholders who recently pushed for a detailed examination of the possibility. The idea, which could have major implications for the way McDonald’s handles its financial reserves, has sparked both interest and debate. Let’s take a closer look at why this proposal has surfaced and what it could mean for the future of the company.

Shareholders Push for Bitcoin in McDonald’s Treasury

The proposition to include Bitcoin in McDonald’s treasury came ahead of the company’s 2025 annual shareholders meeting. Led by the National Center for Public Policy Research (NCPPR), a conservative think tank based in Washington, D.C., the group has previously raised similar proposals to other major U.S. corporations, including Microsoft and Amazon, all urging the adoption of Bitcoin as a reserve asset.

In their letter to McDonald’s, the NCPPR suggested the company conduct a thorough evaluation to determine whether incorporating Bitcoin into its financial strategy would serve the long-term interests of shareholders. The think tank highlighted McDonald’s current investment strategy, which includes a substantial 46% of assets in real estate, a strategy that has proven successful but may lack the flexibility and returns that Bitcoin could potentially offer.

They cited the success of MicroStrategy, a company whose stock price has soared after integrating Bitcoin into its balance sheet. This comparison was intended to show that Bitcoin’s inclusion could significantly outperform McDonald’s financial performance over the past five years.

Evolution of MSTR shares and MCD shares (in percentages) over 5 years

Bitcoin as a Hedge Against Inflation

With the ongoing global inflation and the uncertain returns from government bonds, the NCPPR believes that Bitcoin could offer McDonald’s a reliable and liquid alternative. The cryptocurrency, often referred to as digital gold, has been gaining traction in the corporate world, with companies like Tesla, Block, and even GameStop already integrating Bitcoin into their treasury reserves.

For McDonald’s, adopting Bitcoin could not only provide a hedge against inflation but also help the company regain its reputation as a pioneer in the corporate world. The NCPPR believes this move could place McDonald’s on the cutting edge of the evolving financial landscape, especially as cryptocurrencies become more widely accepted by both businesses and governments.

The Volatility Barrier

Despite the compelling arguments, the proposal has not been added to McDonald’s agenda for its upcoming meeting. The company has sought advice from the Securities and Exchange Commission (SEC), asking for confirmation that it could exclude the proposal from its preliminary documents without violating any regulatory frameworks. McDonald’s argued that managing treasury assets falls within the company’s ordinary operations, a decision typically reserved for the management rather than the shareholders.

The SEC agreed with this position in a letter dated March 28, 2025, confirming that the proposal could be excluded without triggering any regulatory penalties. This decision allowed McDonald’s to avoid the need for a shareholder vote on the matter, at least for the time being.

However, the NCPPR was quick to respond, insisting that their request for an evaluation did not overstep the authority of McDonald’s board. They argued that asking for an evaluation of Bitcoin as a reserve asset is a reasonable request that shareholders should have the right to vote on, especially given Bitcoin’s increasing relevance in the economic and political landscape.

Will McDonald’s See Things Differently?

The issue of Bitcoin’s volatility remains a significant barrier for many companies considering adopting it as a treasury asset. Both Microsoft and Amazon have recently rejected similar proposals, citing concerns over Bitcoin’s price fluctuations as a major risk.

But could McDonald’s be different? If the company decides to take a more proactive approach to adopting Bitcoin, it could signal a shift in how multinational corporations view the cryptocurrency. While the volatility of Bitcoin remains a concern, its potential for high returns and its ability to serve as a hedge against inflation could outweigh these risks, especially for a company as financially stable as McDonald’s.

In the coming months, McDonald’s may choose to revisit this proposal or find new ways to integrate Bitcoin into its financial strategy. If they do, it could pave the way for other large corporations to follow suit, accelerating the adoption of cryptocurrencies in the corporate world. Until then, the question remains: will Bitcoin soon become a part of McDonald’s treasure chest? Only time will tell.