Dell stopped accepting Bitcoin again in 2017 due to insufficient demand, and now its boss says it will pass on the largest cryptocurrency
Michael Dell, founder and CEO of Dell Technologies, is not buying the Bitcoin frenzy.
In a wide-ranging interview with DealBook, the American businessman with a net worth of $53.3 billion said he would pass on the oldest and largest cryptocurrency.
However, he believes that blockchain, the underlying technology in Bitcoin, has been “underestimated”:
I think the blockchain may have been underestimated. Bitcoin, I’m going to pass that along. I really dont know.
Ironically, Dell became one of the first major companies to begin accepting the largest cryptocurrency for its products in July 2014. In February 2015, it expanded the new payment option internationally.
In October 2017, Dell dropped its support for bitcoin due to “low demand”.
Dell is now the largest merchant to accept # bitcoin internationally. http://t.co/ttSeDp4w46
– Michael Dell February 19, 2015
Early this year, Tesla started accepting Bitcoin payments but then put them on hold indefinitely due to the harmful environmental impact of the cryptocurrency.
