Tech mogul Michael Dell posts about Bitcoin online

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.

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.

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.