It is said that it is no longer possible for HSBC customers to purchase microstrati shares on its online trading platform HSBC InvestDirect or HIDC.

Based on the fictitious messages the bank sent to its customers, HSBC has already asked the owners of microstrati shares not to buy additional shares.

Kamiam, who uses Twitter, claims that on March 29, the news came from the banking company:

The MSTR blacklist appears to be part of the bank’s revised usage policy, which prohibits users from interacting with cryptocurrencies, and removed a post that read:

“HIDC will not participate in the promotion (purchase and / or trade) of any virtual currency-related products, related products or products indicating virtual currency performance.”
According to the so-called HSBC statement, microstrati is a cryptocurrency product, so it has been blacklisted.

Software and business intelligence company Microstrati is the first US public company to adopt Bitcoin (BTC).

Since Bitcoin first added to its balance sheet in August 2020, Fortune companies now have more than 1,000,000 BTCs, valued at about. 2.26 billion.

MRST is simply HSBC’s latest move to counter blacklist crypto technology. According to reports, earlier this year, the world’s sixth-largest bank banned customers from transferring profits from cryptocurrency exchanges to their bank accounts.

Other companies willing to invest in Bitcoin have not reported such a ban, even though users are not allowed to buy microstrati shares.

In fact, companies that have invested heavily in Bitcoin are still listed in HIDC business directories like Tesla, Hut 8 Mining and Square.

HTBC has become a new bank that has reacted negatively to Microstrati’s involvement in bitcoin transactions. As of December 2020, Citibank downgraded the MSTR rating due to the company’s “excessive focus” on cryptocurrencies with the highest market value.

Microstrati’s investment in Bitcoin initially saw a positive turnover in the company’s share price in early February, reaching a 21-year high of $ 1,200. Since then, the MSTR has struggled and is now nearly 50% below its 2021 high.

Neither HSBC nor Microstrati responded immediately to Contelegraph’s request for comment.

Source: CoinTelegraph