Purchasing MicroStrategy stock is allegedly no longer likely for HSBC clients on the bank’s online trading platform dubbed HSBC InvestDirect.
As per an alleged message from the bank to its clients, the banking giant has directed customers that by now own MicroStrategy stock not to purchase further shares.
Camiam, a Twitter user asserted to have received such a message from HSBC recently. The blacklisting of the MicroStrategy stock seems to be part of the bank’s modified user policy barred customers from associating with digital assets, with an extract from the message reading:
“HIDC will not participate in facilitating (buy and/or exchange) products relating to virtual currencies, or products related to or referencing to the performance of virtual currency.”
As per the assumed HSBC communique, MicroStrategy is a digital asset product, hence the rationale behind debarring.
It is to be noted that MicroStrategy, a business intelligence firm, has pioneered BTC espousal among publicly listed corporations in the United States.
Since primarily adding BTC to its balance sheet back in the month of August last year, the Fortune 500 firm now holds more than ninety thousand Bitcoins, presently valued at over five billion dollars.
Notably, HSBC becomes the latest bank to respond negatively to MicroStrategy’s BTC connection. Last year in the month of December, Citibank relegated MicroStrategy’s stock over the firm’s “disproportionate” focus on the prime digital asset by market cap.
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