Bitcoin and cryptocurrency prices have been volatile this week after former US President and 2024 presidential candidate Donald Trump issued a serious warning about a possible collapse of the US Dollar.
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Bitcoin prices have fallen from more than $70,000 per bitcoin earlier this month following an “unprecedented” warning from the Federal Reserve Bank BlackRock.
Now, with bitcoin and crypto legends betting on a major pivot to China, tech billionaire Michael Dell has sparked bold speculation that his computer company might follow MicroStrategy and Elon Musk’s Tesla into bitcoin.
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Forbes: “It's like losing the war” – Donald Trump warns of dollar collapse after huge Bitcoin donation By Billy Bambrough
This has sparked speculation that Dell Technologies CEO Michael Dell might make the following statement: [+] Following the recent surge in Bitcoin's price, MicroStrategy and Elon Musk's Tesla have invested in Bitcoin.
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“Scarcity creates value,” Dell, who founded his eponymous computer company in the 1980s, posted on X. “Bitcoin is digital scarcity,” MicroStrategy founder Michael Saylor replied, to which Dell reposted.
Dell, who is the 14th richest person in the world according to Forbes data, then posted an image of Sesame Street's Cookie Monster eating the bitcoin.
Dell's exchange with Saylor is reminiscent of a similar exchange between Tesla billionaire Elon Musk and Saylor in late 2020, before Musk revealed that Tesla had bought $1.5 billion worth of bitcoin. Tesla sold most of its bitcoin in 2022 but still holds 10,000 bitcoin, worth roughly $600 million.
Saylor has emerged as one of Bitcoin's most bullish and enthusiastic advocates, purchasing 214,400 Bitcoin (representing 1% of all Bitcoin in existence) via MicroStrategy and spearheading a movement to adopt Bitcoin as a treasury reserve asset for other companies.
“Dell could be the next domino to fall,” Marty Bent, a bitcoin investor and managing partner at venture capital firm Ten31, said in an email.
“Once the doors really open and everyone starts pouring into Bitcoin, you can imagine what that could mean for the price and quality of companies that adopt this mindset.”
“Every billionaire in the world will realize that the quickest way to increase shareholder value and command a significant premium on their company's stock is to adopt the Bitcoin standard,” added an anonymous but widely followed X user.
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ForbesIMF warns of serious US dollar collapse, Fed prepares for cryptocurrency price surge for Bitcoin, Ethereum, XRPBy Billy Bambrough
Bitcoin prices have soared in recent months, climbing back to all-time highs. [+] Approximately $70,000 per Bitcoin.
Forbes Digital Assets
MicroStrategy's shares have soared since it began buying Bitcoin in the summer of 2020, rising nearly 1,000%, helping boost the software company's market capitalization to $26 billion.
Last month, medical device maker Semler Scientific said it had bought $40 million worth of Bitcoin and would continue to buy, sending its stock price up about 60%.
“we believe [bitcoin] “Bitcoin's unique characteristics as a scarce and finite asset allow it to act as a reasonable inflation hedge and safe haven during times of global volatility,” Semler Chairman Eric Semler said in a press release, adding that Bitcoin could eventually rival gold's nearly $16 trillion market cap.
“We also believe it is better than gold, which has a market value roughly 10 times that of Bitcoin, because it is digital and structurally resilient.”
