{"id":223074,"date":"2021-04-09T18:00:00","date_gmt":"2021-04-09T15:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/hsbc-reportedly-blacklists-microstrategys-stock-for-investing-in-bitcoin\/"},"modified":"2021-04-09T18:00:00","modified_gmt":"2021-04-09T15:00:00","slug":"hsbc-reportedly-blacklists-microstrategys-stock-for-investing-in-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/hsbc-reportedly-blacklists-microstrategys-stock-for-investing-in-bitcoin\/","title":{"rendered":"# HSBC reportedly blacklists MicroStrategy&#8217;s stock for investing in Bitcoin"},"content":{"rendered":"<p>&#8220;<strong># HSBC reportedly blacklists MicroStrategy&#8217;s stock for investing in Bitcoin <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvYWIwYmQ3MzUtY2MyYi00NDI0LTgyZWUtMDk0YmIyMTVkZjY4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Buying MicroStrategy stock (MSTR) is reportedly no longer possible for HSBC customers on the bank\u2019s online trading platform \u2014 HSBC InvestDirect, or HIDC.<\/p>\n<p>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.<\/p>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user Camiam claimed to have received such a message from the banking giant on March 29:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hey <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor?ref_src=twsrc%5Etfw\">@michael_saylor<\/a> , you may want to ask your legal team if what <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/HSBC_CA?ref_src=twsrc%5Etfw\">@HSBC_CA<\/a> is doing here is legal. It sure does not sound like it is! They wont allow us to buy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MicroStrategy?ref_src=twsrc%5Etfw\">@MicroStrategy<\/a> . They maybe naked short&#8230; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GWSpt5t9eH\">pic.twitter.com\/GWSpt5t9eH<\/a><\/p>\n<p>\u2014 Camiam\u26a1\ufe0f\u2623\ufe0f (@Camadamus) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Camadamus\/status\/1380030785911025671?ref_src=twsrc%5Etfw\">April 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The MSTR blacklisting <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be part of the bank\u2019s amended user policy prohibiting users from interacting with cryptocurrencies with an excerpt from the message reading:<\/p>\n<blockquote><p>\u201cHIDC will not participate in facilitating (buy and\/or exchange) product relating to virtual currencies, or products related to or referencing to the performance of virtual currency.\u201d<\/p><\/blockquote>\n<p>According to the alleged HSBC communique, MicroStrategy is a virtual currency product hence the reason for the blacklisting. <\/p>\n<p>MicroStrategy, a business intelligence and software firm, has pioneered Bitcoin (BTC) adoption among publicly-listed companies in the United States.<\/p>\n<p>Since first adding Bitcoin to its balance sheet back in August 2020, the Fortune 500 company now holds over 90,000 BTC currently valued at about $5.26 billion.<\/p>\n<p>The blacklisting MSTR is only the latest in HSBC\u2019s recent anti-crypto moves. Earlier in the year, the world\u2019s sixth-largest bank also reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.thetimes.co.uk\/article\/bitcoin-holders-barred-from-depositing-profits-in-uk-banks-pgswbfrdz\">blocked<\/a> customers from moving profits from crypto exchanges to their bank accounts.<\/p>\n<p>Despite banning users from buying MicroStrategy stock, reports of similar prohibitions are yet to emerge for other companies with Bitcoin investment interests. <\/p>\n<p>Indeed, companies with significant Bitcoin investments like Tesla, Hut 8 Mining, and Square to mention a few are still listed on the HIDC trading catalog.<\/p>\n<p>HSBC becomes the latest bank to react negatively to MicroStrategy\u2019s Bitcoin involvement. Back in December 2020, Citibank downgraded MSTR over the company\u2019s \u201cdisproportionate\u201d focus on the largest cryptocurrency by market capitalization.<\/p>\n<p>MicroStrategy&#8217;s Bitcoin investment initially seem to trigger a positive run for the company&#8217;s stock price reaching a 21-year high above $1,200 back in early February. MSTR has since struggled and is now almost 50% down from its 2021 peak.<\/p>\n<p>Neither HSBC nor MicroStrategy immediately replied to Cointelegraph\u2019s request for comments.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/hsbc-reportedly-blacklists-microstrategy-s-stock-for-investing-in-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# HSBC reportedly blacklists MicroStrategy&#8217;s stock for investing in Bitcoin &#8221; Buying MicroStrategy stock (MSTR) is reportedly no longer possible for HSBC customers on the bank\u2019s online trading platform \u2014 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":223075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvYWIwYmQ3MzUtY2MyYi00NDI0LTgyZWUtMDk0YmIyMTVkZjY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,71939,117,71879,70359,71407],"class_list":["post-223074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-banks","tag-business","tag-hsbc","tag-stocks","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/223074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=223074"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/223074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/223075"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=223074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=223074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=223074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}