Loading...

Tech mogul Michael Dell posts about Bitcoin online

544542
Tech mogul Michael Dell posts about Bitcoin online

Contents

Share link:

In this post:

  • Michael Dell, founder of Dell, posted a Bitcoin picture, initiated a blockchain vote, and retweeted Michael Saylor’s “Bitcoin is Digital Scarcity.”
  • Michael’s tweet, “Scarcity creates value,” sparked significant interest in the cryptocurrency community.
  • Dell accepted Bitcoin as payment in 2014 but stopped in 2017 due to low demand.

Michael Dell, the founder of Dell and one of the wealthiest people in the world, has recently grabbed the cryptocurrency community’s attention. He posted a picture featuring Bitcoin, did a blockchain poll, and retweeted Michael Saylor’s statement about BTC.

Tech mogul Michael Dell posts about Bitcoin online
Source: X.com

Dell posted on X, saying, “Scarcity creates value.” This brief message has been widely interpreted within cryptocurrency circles. Notably, Walker from the Bitcoin Podcast quickly tagged it as a “Bitcoin tweet.”

He also reminded everyone about Dell’s bold move in 2014, when Dell began accepting Bitcoin as payment, a pioneering step at that time. However, by October 2017, the company stopped accepting Bitcoin due to low demand.

MicroStrategy, however, has been making waves with its massive Bitcoin holdings. According to a press release yesterday, MicroStrategy acquired an additional 11,931 BTC for $786 million. This acquisition, led by Michael Saylor, is part of MicroStrategy’s aggressive Bitcoin strategy.

Tech mogul Michael Dell posts about Bitcoin online
Source: X.com

By the end of April, MicroStrategy held 214,400 Bitcoins. With this latest purchase, their total holdings increased to 226,331 tokens, valued at nearly $15 billion, given Bitcoin’s price of around $66,000. The company’s Bitcoins were bought at an average price of $36,798 each, totaling roughly $8.33 billion spent on Bitcoin acquisitions.

This recent purchase was funded through an $800 million convertible note offering to institutional investors. The offering initially aimed to raise $500 million but was later increased to $700 million before closing at $800 million. This aggressive approach is similar to the strategy employed in March when MicroStrategy raised funds through debt issuance and added 9,245 BTC for $623 million.


 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Which decentralized apps had the best revenues in H1, 2024
Cryptopolitan
Subscribe to CryptoPolitan