{"id":51544,"date":"2024-08-31T01:47:00","date_gmt":"2024-08-31T01:47:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/dell-no-signs-bitcoin-despite-ceo-bullish-crypto-comments"},"modified":"2024-08-31T06:14:49","modified_gmt":"2024-08-31T06:14:49","slug":"dell-results-show-no-signs-of-bitcoin-despite-ceos-bullish-comments","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51544","title":{"rendered":"Dell results show no signs of Bitcoin despite CEO\u2019s bullish comments"},"content":{"rendered":"

Dell Technologies doesn\u2019t look like it ended up putting any Bitcoin on its balance sheet in the second quarter of the year, despite the CEO\u2019s recent cryptic crypto-themed posts.<\/p>\n

In the Aug. 29 filing, the company revealed strong earnings based on\u00a0growing AI demand, though it did not mention Bitcoin (BTC) in its earnings call or results filing.<\/p>\n

\"\"
Source: <\/em>Michael Dell<\/em><\/p>\n<\/figcaption><\/figure>\n

Speculation was rife the tech giant might have been considering buying some Bitcoin after CEO Michael Dell gave the very distinct impression he was bullish on crypto in a series of posts on social media.<\/p>\n

In a June 21 post on X, Dell said, \u201cScarcity creates value,\u201d a phrase often associated with Bitcoin because of the hard supply cap of 21 million.<\/p>\n

He only added fuel to the fires of speculation after reposting the reply from vocal advocate and CEO of MicroStrategy Michael Saylor, \u201cBitcoin is Digital Scarcity,\u201d and then plugged an account with a cookie monster image eating Bitcoin.<\/p>\n

Dell also held a poll on June 29 asking users what was more important: AI, Bitcoin, Love and relationships, or none of the above. Bitcoin won with 43% of the vote.<\/p>\n

\"\"
Source: <\/em>Michael Dell<\/em><\/p>\n<\/figcaption><\/figure>\n

His last Bitcoin-related post came on July 16, when he commented, \u201cfascinating Bitcoin,\u201d on an interview with BlackRock CEO Larry Fink, explaining he was no longer skeptical of Bitcoin after studying it.<\/p>\n

However, Dell\u2019s results filing shows no signs that the company purchased Bitcoin or any other cryptocurrencies.<\/p>\n

Typically, companies disclose when they buy or hold digital assets. Tesla\u2019s involvement with Bitcoin was revealed through its financial filings in quarter one of 2021 when it purchased $1.5 billion worth of Bitcoin.<\/p>\n

MicroStrategy, Metaplanet and Semler Scientific have also disclosed the size and scope of their Bitcoin holdings in earnings filings.<\/p>\n

Related: <\/strong><\/em>Bet more on the Bitcoin miners cashing in on AI<\/strong><\/em><\/p>\n

Only a few companies have made Bitcoin part of their treasury strategies. Leading the pack is Saylors MicroStrategy, which has 226,500 Bitcoin in a stash worth $13.4 billion, according to the company\u2019s portfolio tracker.<\/p>\n

Dell Technologies\u2019 Q2 earnings beat estimates thanks to AI<\/strong><\/h2>\n

The company\u2019s total revenue was $25 billion, up 9% compared to last year, with record servers and networking revenue of $7.7 billion, up 80% compared to last year.<\/p>\n

Analysts were predicting $24 billion in revenue. Jeff Clarke, vice chairman and chief operating officer of Dell, said AI was a key driving force behind the company\u2019s higher earnings.<\/p>\n

\u201cOur AI momentum accelerated in Q2, and we\u2019ve seen an increase in the number of enterprise customers buying AI solutions each quarter,\u201d Clarke said.<\/p>\n

\u201cAI-optimized server demand was $3.2 billion, up 23% sequentially, and $5.8 billion year to date,\u201d he added.<\/p>\n

Magazine: <\/strong><\/em>\u2018Everything feels like it\u2019s going to shit\u2019: Peter McCormack reveals new podcast<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dell Technologies doesn\u2019t look like it ended up putting any Bitcoin on its balance sheet in the second quarter of the year, despite the CEO\u2019s recent cryptic crypto-themed posts. 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