Not a very smart move. Larry Fink does not approve.
MS had tens of billions in cash to invest. Would it have killed them to allocate
just a tiny bit, maybe $10 million or so to bitcoin?
At this point,
I believe they just did not want to be associated with bitcoin or crypto and all the ideologies that comes with it. Because with how big their company is, I am sure that they can afford to take a little bit of risks and not to mention that bitcoin has proven itself to be profitable despite being volatile. So that could only be the explanation.
I could understand that if this was 2014 when bitcoin was seen as something used mostly by criminals and other nefarious purposes.
But in 2024 the sentiment has completely changed for bitcoin. Wall Street and even the US government has embraced
bitcoin as a legitimate investment asset, so it seems crazy to me not to invest in it. One of the biggest holders of Microsoft
stock, Blackrock even recommended an allocation to bitcoin, and they still said no? To the biggest and most respected asset
manager in the world? I don't know what else to call that but stupid.