Dell CEO Michael Dell Snubs Bitcoin

Dell Stopped Accepting Bitcoin In 2017 Due To Insufficient Demand, And His Boss Now Says He Will Pass On The Biggest Cryptocurrency

Michael Dell, the founder and CEO of Dell Technologies, is not buying into the Bitcoin craze.

In a broad interview with DealBook, the American businessman with an estimated net worth of $ 53.3 billion said he would pass on the oldest and largest cryptocurrency.

Yet, he believes that that blockchain, the technology at the core of Bitcoin, is actually “underrated”:

I think blockchain is probably underrated. Bitcoin, I’ll skip over it. I do not really know.

Ironically, Dell became one of the first major companies to start accepting the largest cryptocurrency for its products all the way back in July 2014. In February 2015, it extended the new payment option internationally.

In October 2017, Dell dropped support for Bitcoin due to “low demand.”

Earlier this year, Tesla started accepting Bitcoin payments, but then suspended them indefinitely due to the negative environmental impact of the cryptocurrency.

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