The global financial community is on the edge of its seats as Dell Technologies prepares to reveal a potential bitcoin purchase on its fiscal second quarter earnings conference call scheduled for 4:30 pm GMT-4 today, after the US market closes. This pending conference call is highly anticipated due to a number of intriguing clues from Michael Dell, who not only runs the company but is also recognized as the 14th richest person in the world with a fortune of nearly $110 billion.
Did Dell buy bitcoin?
By Michael Dell x.com/MichaelDell” target=”_blank” rel=”noopener nofollow”>comments Criticism of bitcoin has been particularly frequent and direct in recent weeks. Beginning on June 20, his cryptic tweet “Scarcity creates value” sparked intense speculation. This particular phrase, which is often repeated within the community, attracted the attention of none other than Michael Saylor, a staunch advocate of btc as a corporate treasury asset.
Saylor responded, “bitcoin is digital scarcity.” Dell reposted Saylor’s response and confirmed that his tweet was indeed referring to btc. On the same day, Dell also humorously tweeted a photo of Cookie Monster eating a bitcoin and commented, “This is a great account to follow @MeCookieMonster. Very entertaining.” This playful yet suggestive communication led the community to ponder whether Dell was implying a personal or corporate investment in btc.
Dell’s other social media activities reinforced this narrative. Also on June 21, it launched a poll asking its followers to weigh in on what they thought would be the next big technological breakthrough. The results revealed solid enthusiasm for blockchain, with 38.6% of the votes, eclipsing other cutting-edge technologies like artificial intelligence and quantum computing.
Another survey conducted on June 28 indicated strong interest in btc, with 43.1% of respondents identifying it as “most important,” outperforming other options including ai and relationships.
Speculation surrounding Dell's interest in bitcoin peaked on July 15, after he shared a video featuring positive comments from Blackrock CEO Larry Fink about bitcoin during an interview on CNBC. Fink described btc as a “legitimate financial instrument” capable of providing uncorrelated returns, especially valuable in times of currency devaluation and fiscal deficits. Dell commented that it was “fascinating.”
If Dell Technologies were to confirm that it has added btc to its balance sheet, it would not only validate the extensive speculation, but could also mark a transformative shift in the way major tech companies view bitcoin. Therefore, today’s earnings call is not just a routine fiscal update, but a potentially pivotal moment for Dell Technologies and the btc market.
At the time of writing, btc was trading at $60,349.
Featured image from Inside IT, chart from TradingView.com
