Bitcoin on balance sheet attracts negative attention from anti-crypto banks
Having over 90,000 BTC on the balance sheet could see a company’s stock blacklisted by banks that remain crypto detractors. MicroStrategy’s continuous Bitcoin acquisition has drawn the ire of investment banking giant HSBC. Despite being one of the largest business intelligence firms in the world, HSBC has stated that MicroStrategy is now a “virtual currency product,” a designation akin to the pseudo-Bitcoin exchange-traded fund status attached to the company on account of its sizable Bitcoin (BTC) balance sheet.Since August 2020, MicroStrategy has embarked on a Bitcoin acquisition spree....
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