Although Dell took a neutral stance towards Bitcoin, he was among the first who adopted it. The billionaire declined to give opinions on Bitcoin but expressed that blockchain technology could be underrated.
Michael Saul Dell considers that blockchain technology is underrated, which implies the little utilization of its potential. However, he did not comment on Bitcoin even though his company was committed to it in the past.
The billionaire businessman and CEO of Dell Technologies recently spoke about it with The New York Times. Despite taking a seemingly calm and neutral stance towards Bitcoin, he was among the first who adopted it.
Dell began accepting Bitcoin as a payment method in 2014, which he expanded internationally in 2015. However, he stopped doing so due to its low demand in 2017. The executive then apologized to his customers for the inconvenience that it caused them.
Who is Billionaire Businessman Michael Saul Dell?
The successful businessman and billionaire philanthropist Michael Saul Dell was born in Houston, Texas, the United States, in 1965. While his father was an orthodontist, his mother was a stockbroker.
He is the founder, president, and CEO of the technology infrastructure company Dell Technologies. Additionally, he wrote Play Nice but Win: a CEO’s Journey from Founder to Leader. The author analyzes in it the purchase, sale, listing, and exclusion of companies throughout his career.
The billionaire explained that the title of his book came from a family anecdote during his childhood. His parents said those words to his brothers and him before they went out to play baseball in the street. He believes those memories marked him as a general philosophy of life as he watched them navigate their lives.
Michael Saul Dell Expresses His Rejection of Bitcoin
Andy Serwer told The New York Times people usually do not mention Dell when they talk about the great technology. However, he believes they should, since the PC firm has adapted and thrived amid massive change.
As Michael Dell is a fan of blockchain technology, he could help boost the infrastructure business of his company.
The CEO of Dell Technologies also listed blockchain technology alongside autonomous vehicles. Additionally, he sees biotechnology enhanced by artificial intelligence (AI) as a great driver of revenues for the company.
Dell said that the intelligent world is increasingly connecting to a considerable amount of data. He explained that such data requires infrastructure and technology to manage it.
Curiously, Dell declined to comment on whether people underestimated or overvalued Bitcoin. However, the billionaire did express that blockchain technology could be underrated.
The pioneering cryptocurrency is trading at around USD 57,420 and has accumulated an 11.3% profit in the past week. While its daily trading volume is above USD 41.2 billion, its market capitalization is approximately USD 1.082 billion, according to CoinGecko.
A growing number of entrepreneurs are aware of the importance of Bitcoin in the economy of the world. Elon Musk and Michael Saylor are institutional investors who have put large amounts of money into the cryptocurrency.
By Alexander Salazar
