Bitcoin
Michael Saylor presents Bitcoin to Dell CEO
Alex Dovbnya
Is Michale Dell the latest high-profile business leader to change his stance on Bitcoin?
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MicroStrategy co-founder Michael Saylor has already released Bitcoin to Michale Dell, claiming it represents “digital scarcity.”
This comes after the CEO of US computer giant Dell recently sparked excitement among Bitcoiners with his Thursday social media publish. “Scarcity creates value,” wrote Dell on X, apparently alluding to Bitcoin’s fixed supply limit.
The cryptic social media post sparked speculation in the cryptocurrency community as to what prompted the 59-year-old billionaire to post this statement on his social media account.
As reported by U.TodayDell previously stated that he was not interested in Bitcoin, despite thinking that blockchain, the underlying technology behind the largest cryptocurrency, was “underrated.”
It remains to be seen whether people like Saylor can get Dell to adopt a friendlier stance towards Bitcoin. In 2020, Saylor’s casual social media exchange with Tesla Elon Musk convinced Tesla CEO Elon Musk to buy the largest cryptocurrency.
Notably, Dell began accepting Bitcoin in 2014, becoming the largest merchant to adopt the cryptocurrency. However, the computer giant abandoned Bitcoin due to low demand in 2017.
After failing as a means of payment, Bitcoin reinvented itself as a store of value that competes mainly with gold. However, not everyone is buying into this narrative.
“Scarcity alone does not create value. We must also remember that all value is also subjective,” wrote one social media user in response to Dell’s post. This is a popular discussion point among gold bugs, as Peter Schiff who believe that scarcity without utility is meaningless.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the booming industry – from price analysis to Blockchain disruption. Alex has authored over 1,000 stories for U.Today, CryptoComes, and other fintech media outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. He can be reached at alex.dovbnya@u.today.