The global financial community is poised on the edge of their seats as Dell Technologies prepares to potentially unveil a Bitcoin purchase in its fiscal Q2 earnings call slated for 4:30 pm GMT-4 today, after the US market closes. This earring call is highly awaited due to a series of intriguing cues from Michael Dell, who not only helms the company but is also recognized as the fourteenth wealthiest individual in the world with a fortune just shy of $110 billion.
Did Dell Buy Bitcoin?
Michael Dell’s comments regarding Bitcoin have been notably frequent and pointed in recent weeks. Starting on June 20, his cryptic tweet “Scarcity creates value” sparked intense speculations. This particular phrase, often echoed within the community, attracted attention from none other than Michael Saylor, a stalwart in the advocacy of BTC as a corporate treasury asset.
Saylor replied “Bitcoin is digital scarcity.” Dell went on to repost Saylor’s reply confirming that his tweet was indeed about BTC. On the same day, Dell also humorously tweeted a picture of the Cookie Monster eating a Bitcoin, commenting “. This is a great account to follow @MeCookieMonster. Very entertaining.” This playful yet suggestive communication led the community to ponder whether Dell was hinting at a personal or corporate investment in BTC.
Further social media activities by Dell underscored this narrative. Also on June 21, he launched a poll asking his followers to weigh in on what they believed would be the next significant breakthrough in technology. The results revealed a robust enthusiasm for blockchain, with a leading 38.6% of the votes, overshadowing other cutting-edge technologies like AI and quantum computing.
Another poll on June 28 indicated a strong interest in BTC, with 43.1% of respondents identifying it as the “most important thing,” surpassing other options including AI and relationships.
The speculation around Dell’s interest in Bitcoin reached a fever pitch on July 15, following his share of a video featuring Blackrock CEO Larry Fink’s positive remarks on Bitcoin during a CNBC interview. Fink described BTC as a “legitimate financial instrument” capable of providing non-correlated returns, especially valuable in times of currency debasement and fiscal deficits. Dell commented “fascinating”.
If Dell Technologies were to confirm that it has added BTC to its balance sheet, this would not only validate the extensive speculation but could also mark a transformative shift in how major tech companies view Bitcoin. Thus, today’s earnings call is not just a routine fiscal update but a potentially pivotal moment for Dell Technologies and the BTC market.
At press time, BTC traded at $60,349.
Featured image from Inside IT, chart from TradingView.com
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