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Michael Saylor presents Bitcoin to Dell CEO
Alex Dovbnja
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 done this acute Bitcoin to Michale Dell, claiming it represents “digital scarcity.”
This comes after the CEO of US computing giant Dell recently sparked excitement among Bitcoiners with his social media posts on Thursday send. “Scarcity creates value,” Dell wrote on X, apparently alluding to Bitcoin’s fixed supply limit.
The cryptic social media post sparked speculation within 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 said he was not interested in Bitcoin despite believing blockchain, the technology behind the largest cryptocurrency, was “undervalued.”
It remains to be seen whether people like Saylor can get Dell to adopt a friendlier attitude towards Bitcoin. In 2020, Saylor’s casual social media exchange with Tesla Elon Musk convinced Tesla CEO Elon Musk to purchase the largest cryptocurrency.
Notably, Dell began accepting Bitcoin in 2014, becoming the largest merchant to embrace the cryptocurrency. However, in 2017, the IT giant abandoned Bitcoin due to low demand.
After failing as a means of payment, Bitcoin has reinvented itself as a store of value that competes primarily with gold. However, not everyone believes in this narrative.
“Scarcity alone does not create value. We must also remember that all value is also subjective,” one social media user wrote in response to Dell’s post. This is a popular talking point among gold bug like Peter Schiff who believe that scarcity without utility is meaningless.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.