No Bitcoin Mention in Dell’s Earnings Report, Despite CEO’s Ambitious Tweets
Michael Dell has teased at an interest in Bitcoin. Photo by Justin Sullivan/Getty Images.
Key Takeaways
- Dell Technologies founder and CEO has hinted at an interest in Bitcoin on several occasions recently.
- Dell’s comments sparked speculation that the company could follow the likes of Tesla and Microstrategy and invest in BTC.
- However, according to its latest earnings statement, Dell hasn’t declared any Bitcoin on its balance sheet.
A cryptic X post from Michael Dell, the founder and CEO of Dell Technologies, recently sparked speculation that the company might invest in Bitcoin.
However, no sign of any such strategy can be found in Dell’s second-quarter earnings published on Thursday, Aug. 29.
Dell Founder’s Tweet Fuels Speculation of Bitcoin Investment
The Tweet that ignited the internet rumors stated simply: “Scarcity creates value.” It didn’t contain any reference to Bitcoin, cryptocurrency, or blockchain, but it did spark an interesting conversation in the comments.
Michael Saylor, who famously pioneered Microstrategy’s crypto turn in 2020, responded that “Bitcoin is Digital Scarcity,” highlighting one of the cryptocurrency’s most attractive qualities to investors.
Tweets ≠ Endorsement
In the past, Dell has hinted at an interest in crypto, for instance, by sharing an image of the Cookie Monster eating Bitcoins and a video of BlackRock CEO Larry Fink endorsing BTC investments with the caption “fascinating.”
Accordingly, the leap from “scarcity creates value” to “Bitcoin is valuable” isn’t too far-fetched. But beyond that, there is little evidence of any plans to invest.
Even if we assume Dell is a BTC fan (and he seems to have at least a passing interest in the topic), the technology giant that bears his name is a publicly traded company. And although he holds a significant stake, the CEO still needs to answer to other shareholders.
In the end, there are plenty of business leaders who have expressed an affinity for Bitcoin, or even invested in it personally. But for now, few companies have allocated even a small portion of their treasuries to the digital asset digital asset.
