They must have done it for the lulz!

1) the current profits do not reflect the price of a company. Twitter never made a profit till Q3 2014 and is worth 32 billion USD.
It is about the potential the company has. Minecraft for example is a successful app and videogame, but that is it. With the help of Microsoft they can do much more than that. Create toys, make it a franchise, make it a Xbox mascot etc.

2) Why is it greedy at all? They can continue to do what they love and have the opportunity to do this on a much bigger scale, because of Microsofts power / money / network. They will probably continue to do Minecraft on Android and iOS anyway. The only plattform that won't see future releases is Playstation.

Their next project, whatever it may be, will see all the support they could have hoped for as well and will most likely be on Windows, Xbox One, Windows Phone and probably iOS and Android. So, if you cand just keep on doing what you love and release it on pretty much every plattform you like (except Playstation and Nintendo) and you get a shitload of money, you would be stupid not to do this.

I just thought of something, this deal could potentially push windows azure service as well. Microsoft could force people to switch to windows azure servers in order to host the game. That can generate a lot of money for Microsoft.

I don't see this as much to do with Xbox. The best they can hope for is moderate success in the US and honestly 50m lifetime XB1 hw sales is on the extreme high range of reality, with 35-45m much more likely. A conventional 9th gen MS console is also unlikely for very obvious reasons.

With Apple getting more dangerous to Microsoft with every year, and Google as well, it seems that the most likely way to leverage a 2B expense isn't wasting it on a dying platform, but to reinvigorate their PC gaming along with boosting their mobile platforms. I forsee a major shift in strategy as the new corporate direction takes hold. 360/PS3 are in rapid decline, and XB1 can never sell enough minecraft to recoup 2B in a million years. But spread the IP over a ton of platforms and they have a shot.

It still seems risky though. I don't know anyone that plays it for long without getting really burned out.

2 billion is alot of scratch for a game. But it looks more to me that Microsoft is trying to purchase a very popular and estabished IP rivaling Mario, and Angry Birds.

By owning Minecraft they would have a cut into not only game sales, but clothes, and toys. Everybody is hooked already onto Minecraft (except me, I have no interest) Now they start to make money from all the DLC that will be churned out for all platforms.

People that are just thinking MS making this move as trying to cut Sony at the knees are thinking too small. While this generation of consoles have been doing well (PS4 especially). How much more money can be made on PC, smartphone, and tablet sales of DLC, or even a new Minecraft game or spinoff?

Didn't EA just announce earlier this year that they plan on making 1 billion this year on DLC alone.
MS has no problems putting their products on other peoples systems. When MS announced Office earlier this year for the iPad it shot to the top of the iOS store.

What a waste of money.
Invest in a few 1st party devs or something that will help you in the long term, not an indie game that'll die out soon for crying out loud.

So, assuming this happens, see two potential reasons.

One, basic moneymaking profit. The thing is, the raw revenue of Minecraft wouldn't be enough to recoup the investment in any less than a decade, so if profit is the name of the game, expect as many spinoffs, sequels, DLC packs, merchandising and other moneymakers Microsoft can get away with. Obvious benefit would be that, since making money is the goal, then at most you'd see timed exclusivity for Microsoft platforms, but rarely, if ever, outright exclusives. The goal will essentially be milking that prized heifer for all she's worth. Original Mojang staff miiiight stick around- only about forty of them, and seriously, they must be pretty wealthy already- but given the windfall such a deal would make them, can also see them just leaving the company to pursue new projects. I definitely can't picture Notch ever becoming a Molyneux-esque Microsoft spokesperson. xP

Alternatively, there's always yanking Minecraft from everything that isn't a Windows platform to try and push sales of their own devices... whether they CAN do this, I have no idea, especially in the case of Playstation given how recently it released. However, this kind of strikes me as a 'putting the toothpaste back in the tube' situation, as Minecraft's already out there. o.O Kinda late to try getting all proprietary. Even if they succeeded in locking Minecraft down on only Microsoft platforms, it would also probably make them even more hated than EA. Basically think the Tomb Raider fiasco, only instead of just pissing off Playstation and PC gamers, you're pissing off them, AND all the iPod, Android and non-Windows device users. Not enough Internet to contain THAT level of rage.

Rest in Peace, Mojang. There is a plot open next to Rare in the Microsoft graveyard out back.

Terrible decision by Microsoft if true. The game is already on nearly every platform in existence and Notch is a one hit wonder. This deal will happen, Notch sees the writing on the wall anyways. He will be the only winner out of this.

Also, this will be terrible for the industry if true. 

2 billion just for Minecraft? Are they serious?? :S