Michael Dell, the CEO of Dell Technologies, a company with a market cap of over $100 billion, recently showed some level of interest in Bitcoin by retweeting a Bitcoin-friendly post from Michael Saylor, a well-known Bitcoin evangelist. The interaction began when Dell posted, “Scarcity creates value,” which prompted a response from Saylor, the executive chairman of MicroStrategy, stating that “Bitcoin is Digital Scarcity.” Dell then shared Saylor’s post with his own followers.
The exchange didn’t stop there, as Dell later shared an image of Sesame Street’s Cookie Monster digitally altered to appear as though he was eating Bitcoin instead of cookies, a playful reference created by Saylor.
Saylor, who has been instrumental in MicroStrategy’s acquisition of a significant amount of Bitcoin over the years, has been advocating for other companies to follow suit and add Bitcoin to their balance sheets. While only a few companies have taken this step so far, none have done so to the extent that MicroStrategy has under Saylor’s leadership.
For example, Dell reported having $34.6 billion in current assets on its balance sheet as of May 3, with $5.8 billion in cash and cash equivalents, but there was no mention of Bitcoin holdings.
It’s worth noting that CoinDesk, the media outlet reporting on this news, was acquired by the Bullish group in November 2023. The Bullish group, majority-owned by Block.one, has interests in various blockchain and digital asset businesses, including significant holdings of Bitcoin. CoinDesk operates independently with an editorial committee to maintain journalistic integrity.
Overall, Michael Dell’s engagement with Bitcoin-related content shared by Michael Saylor reflects a growing interest in digital assets among business leaders. As the cryptocurrency ecosystem continues to evolve, it will be interesting to see if more companies follow MicroStrategy’s lead and diversify their balance sheets with Bitcoin holdings.