It's kind of poor logic.
Bitcoin is volatile like amazon, but it's also volatile like a junior miner. The former may have ultimately become quite valuable but often the latter goes to zero.
By this logic of maximizing shareholder value by investing in something other than the company, most companies should just sell off all of their assets and buy Nvidia stock, which is kind of an absurd thing -- if people want to buy Nvidia stock they'll buy Nvidia stock.
Bitcoin is volatile like amazon, but it's also volatile like a junior miner. The former may have ultimately become quite valuable but often the latter goes to zero.
By this logic of maximizing shareholder value by investing in something other than the company, most companies should just sell off all of their assets and buy Nvidia stock, which is kind of an absurd thing -- if people want to buy Nvidia stock they'll buy Nvidia stock.
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