Alex Dovbnya
Is Michale Dell the latest high-profile business leader to change his stance on Bitcoin?
MicroStrategy co-founder Michael Saylor has already pitched Bitcoin to Michale Dell, claiming that it represents “digital scarcity.”
This comes after the chief executive officer of US computer giant Dell recently stirred excitement among Bitcoiners with his Thursday social media post. “Scarcity creates value,” Dell wrote on X, seemingly alluding to Bitcoin’s fixed supply limit.
The cryptic social media post ignited speculation within the cryptocurrency community about what prompted the 59-year-old billionaire to post this statement on his social media account.
As reported by U.Today, Dell previously claimed that he was not interested in Bitcoin despite thinking that blockchain, the underlying technology behind the largest cryptocurrency, was “underrated.”
It remains to be seen whether the likes of Saylor can make Dell adopt a more friendly stance toward Bitcoin. In 2020, Saylor’s casual social media exchange with Tesla Elon Musk convinced Tesla CEO Elon Musk to buy the largest cryptocurrency.
Notably, Dell started accepting Bitcoin in 2014, becoming the largest merchant to embrace the cryptocurrency. However, the computer giant ditched Bitcoin due to low demand in 2017.
After failing as a means of payment, Bitcoin has reinvented itself as a store of value that primarily competes with gold. However, not everyone is buying into this narrative.
“Scarcity alone doesn’t create value. We also must remember that all value is also subjective,” a social media user wrote in response to Dell’s post. This is a popular talking point among gold bugs like Peter Schiff who believe that scarcity without utility is meaningless.
Read More: Michael Saylor Pitches Bitcoin to Dell CEO