Microsoft Corporation (MSFT) Is Still Allowing Cryptocurrency Ads

The marketplace for cryptocurrency ads is getting smaller and smaller, but Microsoft Corporation (NASDAQ:MSFT) is still allowing advertisements for cryptos on its Bing search engine. Google and Facebook have recently banned the ads, but Microsoft indicates that it’s still mulling things over.

Recode shres the news on Microsoft’s stance on crypto ads.

Microsoft, which owns search engine Bing, is the biggest ad platform to allow cryptocurrency ads. The company booked $6.97 billion in advertising revenue last year.
“We continually review our policies, and ongoing monitoring of this emerging model may lead to later changes that best meet the interests of our users, partners and network,” said a Microsoft spokesperson. “In that context, we are currently evaluating our position on cryptocurrency advertising.”

Interest in the cryptocurrency marketplace exploded over the latter part of 2017 as Bitcoin surged in price, and that led to a flood of ads touting other virtual currencies, initial coin offerings, and marketplaces for cryptocurrencies. Bitcoin’s price has dropped substantially from that point, and there have been increasing signs that the unregulated marketplace will be reeled in by regulators before too long.

Many tech giants have drawn a line in the sand as a result, but Microsoft remains an outlier for the time being.

Microsoft Corporation shares fell $0.12 (-0.13%) in premarket trading Wednesday. Year-to-date, MSFT has gained 9.38%, versus a 1.53% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 65 stocks in the Software – Application category.