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HSBC bans customers buying MicroStrategy ‘virtual currency’ stock
- Tuesday | 13th April, 2021
LONDON (Reuters) – HSBC has banned customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc stock, a message seen by Reuters showed, calling it a “virtual currency product”. The bank will not facilitate the buying or exchange of products related to or referencing the performance of virtual currencies, the message to an HSBC InvestDirect client said. Bitcoin is the largest and best-known virtual currency. The US business software firm is led by bitcoin proponent Michael Saylor and owns bitcoin worth billions of dollars. “HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from VCs (virtual currencies),” HSBC said in a statement.
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