In contrast to other business leaders, Dell Technologies founder and CEO Michael Dell is not a believer in the Bitcoin mania.
When asked about the oldest and largest cryptocurrency in a lengthy interview with DealBook, Michael Dell, a billionaire with an estimated net worth of $53.3 billion stated he planned to pass it forward to his descendants.
Nonetheless, he feels that blockchain, the technology at the heart of Bitcoin, is “underappreciated”:
I think blockchain is probably underrated. Bitcoin, I’m going to pass on that. I don’t really know.
Ironically, Dell was one of the first big corporations to begin taking Bitcoin as payment for its products back in July 2014, making it one of the first major corporations to do so. It began offering the new payment option to customers throughout the world in February 2015.
Dell stopped support for Bitcoin in October 2017 owing to “low demand,” according to the company.
Dell is now the largest merchant to accept #bitcoin internationally. http://t.co/ttSeDp4w46— Michael Dell (@MichaelDell) February 19, 2015
At the beginning of this year, Tesla began accepting Bitcoin payments, but later decided to discontinue them permanently due to the cryptocurrency’s negative environmental effect.
