HSBC reportedly blacklists MicroStrategy's stock for investing in Bitcoin
The investment banking giant now reportedly classifies MicroStrategy as a “virtual currency product.” Buying MicroStrategy stock is reportedly no longer possible for HSBC customers on the bank’s online trading platform — HSBC InvestDirect, or HIDC.According to a supposed message from the bank to its customers, HSBC has directed users that already own MicroStrategy stock not to buy additional shares.Twitter user Camiam claimed to have received such a message from the banking giant on March 29:Hey @michael_saylor , you may want to ask your legal team if what @HSBC_CA is doing here is legal.....
Related News
HSBC has reportedly changed its policy regarding cryptocurrency. The bank now prohibits customers from buying the stock of public companies that hold bitcoin, like Microstrategy. All of the companies with bitcoin treasuries could be on the chopping block at HSBC. HSBC Now Bars Clients From Buying Crypto and Crypto-Related Stocks Like Microstrategy British bank HSBC has reportedly become more strict with its crypto policy. The bank now prohibits its customers from buying the stock of public companies that are holding bitcoin in its treasury. An HSBC customer has shared a message he said he....
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....
“We take our duty as a responsible lender seriously and want to do everything we can to protect you,” HSBC UK reportedly wrote. Banks in the United Kingdom continue to crack down on Binance cryptocurrency exchange, with banking giant HSBC reportedly becoming the latest bank to cut payment channels to the platform.A series of alleged HSBC clients reported on Twitter this Monday that HSBC UK had suspended credit card payments to Binance.According to an alleged announcement on the service suspension, HSBC UK made the decision “due to concerns about possible risks” to its customers. “We take....
MSTR stock has surged by roughly 113% since Dec. 8 when it was downgraded by a Citigroup analyst. On Dec. 8, 2020, Citigroup, one of the largest banks in the world, downgraded MicroStrategy'ss stock (MSTR). Since then, MSTR stock is up 113.27% from $289.45 to $617.31, as the price of Bitcoin (BTC) rallied.In the same period, the Citigroup stock has declined slightly by 0.63%, from $58.36 to $57.99.MicroStrategy stock vs. BTC and Nasdaq. Source: ecoinmetricsWhy has MicroStrategy stock performed so strongly despite the downgrade?MicroStrategy has been investing its treasury holdings in....
Following the launch of the first ever Bitcoin exchange-traded fund (ETF), Microstrategy’s stock took a hit. This may show that investors would prefer to get BTC exposure through the ETF rather than the tech company’s stock. Microstrategy’s Stock Drops 2% In Response To Bitcoin ETF Launch As reported by Bloomberg, the tech firm’s stock had […]