Business
Michael Dell’s Interest in Bitcoin
Explore the intriguing world of cryptocurrency as we delve into Michael Dell’s growing interest in Bitcoin. Learn more about his views, investments, and impact on the digital currency market.
Michael Dell, the CEO of Dell Technologies, a company with a market cap of over $100 billion, recently showed some interest in Bitcoin. This came to light when he shared a Bitcoin-friendly post on X that caught the attention of Bitcoin evangelist Michael Saylor.
It all began with Dell’s post stating, “Scarcity creates value,” to which Saylor, the executive chairman of MicroStrategy, responded by saying, “Bitcoin is Digital Scarcity.” Dell then reposted Saylor’s comment.
The interaction continued as Dell later shared an image of Sesame Street’s Cookie Monster, digitally altered by Saylor to depict the character consuming Bitcoin instead of cookies.
Michael Saylor, known for leading MicroStrategy in acquiring a significant amount of Bitcoin, totaling 226,331 BTC worth $15 billion over the past few years, has been advocating for other companies to consider incorporating Bitcoin into their balance sheets.
While only a few companies have followed MicroStrategy’s lead in adopting Bitcoin as part of their treasury strategies, Dell, with $34.6 billion in current assets as of May 3, including $5.8 billion in cash and cash equivalents, has not yet mentioned any involvement with Bitcoin.