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Recently, Michael Dell, CEO of Dell, an American technology company known for developing, selling, repairing and supporting computers and related products and services, shared his views on Bitcoin through social media platform X.The interaction began with a response from Microstrategy founder Michael Sailer.
Arguably, Michael Dell’s post about Bitcoin has sparked heated discussions among cryptocurrency enthusiasts.
Since Michael Dell founded the company in 1984, the company has grown into one of the largest personal computer suppliers in the world.
On June 21, Dell tweeted that “scarcity creates value”, a phrase that is often associated with Bitcoin because the supply cap is 21 million, while demand continues to rise.
His tweet quickly caught the attention of Michael Saylor, a well-known advocate for financial assets of Bitcoin enterprises.
Then, the real key is that Dell later shared the Sesame Street Cookie Monster emoji, which may have been generated by artificial intelligence or processed by Photoshop to show that this blue furry guy was chewing bitcoin instead ofThe chocolate chips he usually eats.
The image is interpreted as: Let’s face it, who among us doesn’t feel like a cookie monster when seeing these tempting cryptocurrency gains?
Now, this small move doesn’t mean that Dell is about to put all his money into Bitcoin like Sailer (Seller has $226,331 worth of $15 billion).But this has led people to wonder: Is the tech billionaire interested in cryptocurrencies?Maybe, just maybe.
Dell has a long history in cooperation with Bitcoin. As early as July 2014, Dell began to accept Bitcoin as a payment method.
At the time, Dell was one of the largest e-commerce companies to adopt this strategy.By February 2015, Dell had expanded its Bitcoin payment options to the UK and Canada after a successful pilot in the United States.During this period, Dell also launched promotions, including offering 10% off Alienware products to customers who pay with Bitcoin.
However, things changed in 2017.Despite initial excitement, Dell stopped accepting Bitcoin payments that year.Due to insufficient demand, the Bitcoin pilot program was terminated, making it impossible for the company to continue using this payment method.
In the same year, several well-known brands, including Steam, also stopped accepting Bitcoin due to the congestion of the network and excessive transaction fees at the time.The following year, in 2018, Expedia stopped accepting Bitcoin directly.
While talking to Saylor, Michael Dell launched a poll on X, asking the question: “What do you think is the next big breakthrough in the technology field?” The options provided include quantum computing, artificial intelligence (AI), blockchain and space technology.
As of 1:09 p.m. ET, 19 hours left, blockchain leads the poll with a 37.6% vote (13,406 votes).Considering that there is nearly one day left, the results may change a lot.
Additionally, as of May 3, Dell’s current assets on its balance sheet were $34.6 billion, of which $5.8 billion were cash and cash equivalents, with no mention of Bitcoin.
Joe Consorti, an analyst at Bitcoin Layer, a global macro research firm, believes that Bitcoin can benefit from companies like Dell Technologies because they have the potential to gain additional cash as cost-reducing AI technologies emerge.
“In the period of AI boom, the huge returns on these corporate reserves will provide a further buffer for capital allocation, as spending and expansion in computer manufacturing has never been so rapid or intense for decades,” he wrote, adding:
“Dell has $5.83 billion in cash to achieve this.”
For businesses, even holding only a small portion of Bitcoin (such as 1%) on their balance sheets can give them a clear advantage in the competition.
For example, if Dell Technologies allocates 1% of its $5.83 billion cash reserve to Bitcoin, or $58.3 million, the investment could be within a year based on the historical annualized return of about 103.5% of Bitcoin over the past decade.Growing to $118.7 million.
