- HSBC (NYSE:HSBC) is said to have banned customers on its online trading platform from buying shares of MicroStrategy (NASDAQ:MSTR).
- HSBC is blocking customers from buying MicroStrategy shares, describing them as a "virtual currency product," according to a Reuters report, which cited a message dated March 29.
- HSBC won't facilitate the buying or exchange of products related to or referencing the performance of virtual currencies, Reuters said, citing a message sent to an HSBC InvestDirect client.
- Earlier, MicroStrategy said its board has modified the compensation of non-employee directors, who will receive all of their service fees in bitcoin instead of cash going forward.
- Last week, Canaccord Genunity came out bullish on MicroStrategy, citing the company's "innovative thinking" of using bitcoin to drive investor value, initiating the stock with a Buy rating and a $920 price target.