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Microsoft Corp.’s (NASDAQ:MSFT) refusal to explore Bitcoin (CRYPTO: BTC) investments dampened the spirits of cryptocurrency enthusiasts who had hoped the tech behemoth’s move would drive demand for the leading digital asset.
However, it’s worth noting that one of its largest shareholders, State Street Corp. (NYSE:STT), is a known backer of cryptocurrencies and blockchain technology.
What happened: A financial services giant, State Street, managed about $4.7 trillion in assets as of this writing, making it one of the world’s biggest asset managers. The firm also manages the SPDR S&P 500 ETF Trust (NYSE:SPY), the world’s largest and arguably the most popular exchange-traded fund.
Aside …
