Time for a reality check. Michael Saylor is acting like a degenerate gambler and keeps buying one of the most volatile assets in the world, with his company's money, which is publicly traded at stock markets as some kind of software producing company.
It is only risking the funds of its current and future investors. It is a stock that only offers gambling and made a huge bet that has turned out to be profitable, but as all degenerate gamblers will end crashing to the ground.
Banking giant HSBC blacklisted and removed completely the Microstrategy stock from its online trading platform, after classifying the stock as a virtual currency investing product.
Any new purchaces of Microstrategy stock MSTR-US is now disabled from the HSBC HIDC platform.
“HIDC 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.”
An investor tweeted about this earlier yesterday and according to the notice he received from HSBC, this decision was taken in March.
Microstrategy has until recently kept purchasing Bitcoin and has reached 90,000BTC in its treasury, with a current valuation of $5.2 billion.
Microstrategy was a completely uknown company and Saylor a person that was not on the spotlight since the tech bubble of the beginning of this century. He was once only seen discussing Bitcoin in 2013 and it was in a negative way for BTC.
Suddenly he gained popularity after one day announcing the purchase of Bitcoin with all the recent liquidity his company had acquired from the extended QE. Some companies instead of producing, researching and developing, are just run by degenerate gamblers and Saylor is just enjoying all this boost to his ego, having thousands of Bitcoin shills following and admiring him in social media.
Anyone that wants to invest, right now is the worst time. For any kind of market as the time has come to ask all the free money back, and taxes will begin rising, liquidity will stop being available to financial clowns like Saylor, and the markets will behave once again. The problem will be if the market crashes and stay down, as it will be again the simple folks that will pay the price and not Saylor, that probably is already planning an exit from both his mediocre company and Bitcoin.
