Are you familiar with the term woke investing? To me, woke investing simply means you are investing in a company that is making a meaningful difference in society and in the world. Am I the most woke investor? Most likely not, I want to make money. But I don’t want to support a company that is, for example, paying equally qualified black employees less than their white colleagues. Coinbase is in the hot seat for this as you can see here.
This makes things a bit complicated for me because I am not only invested in Coinbase but I also use their product to buy cryptocurrency. Yes, the majority of my crypto investments are with Coinbase – the other is with BlockFi because of the interest I get from them. So the question is should we sell our Coinbase stock because of the way Coinbase treats their black employees? I’d also potentially transfer all of my crypto to BlockFi. I want to see how the company responds to this news before I react. If they don’t respond and try to act like it’s not a problem while continuing to pay equally qualified black employees less, I am selling my stock.
All of that said, Coinbase stock is currently down in this week’s Growth Portfolio update. Check out the video to see how the portfolio is going this week as we head into 2022! And of course, if you are interested in starting an M1 Finance portfolio to grow your money, use this link to get free money when you start and fund your account.
