In a recent development, Michael Dell, CEO of Dell Technologies, whose market capitalization exceeds $100 billion, showed potential interest in Bitcoin (BTC).
This interest was hinted at through a series of social media exchanges involving Dell and Bitcoin bull Michael Saylor.
The conversation started when Dell posted a cryptic message on its social media account saying “rarity creates value.” This statement led Saylor, MicroStrategy's executive chairman, to respond: “Bitcoin is a Digital Rarity.” Dell later retweeted Saylor's BTC-friendly post, hinting at possible interest in BTC.
The sharing exchange did not stop there. Dell later shared a digitally altered image of Sesame Street's Cookie Monster, depicting the character consuming Bitcoin instead of cookies. It appears that the image was modified by Saylor and added a humorous twist to the serious cryptocurrency debate.
Saylor, MicroStrategy's first CEO and now executive chairman, led the company in purchasing 226,331 Bitcoins worth $15 billion over the past four years. The most recent purchase was this week for 11,900 BTC. Saylor has also been a strong advocate for other companies to include Bitcoin on their balance sheets.
However, to date, only a handful of companies have adopted Bitcoin as part of their treasury strategies, and none of them have been as successful as the Saylor-led MicroStrategy.
Dell had $34.6 billion in current assets on its balance sheet as of May 3, of which $5.8 billion was cash and cash equivalents, according to a recent filing. Bitcoin was not mentioned at all in the application.
*This is not investment advice.
