Dell Technologies’ upcoming second-quarter earnings are set for release after the US market closes on Thursday. However, the crypto community is abuzz with a different kind of expectation.
Speculation about a potential Bitcoin-related announcement has gripped enthusiasts. Wall Street is keen on updates about Dell’s AI server market, but the crypto sector expects Bitcoin disclosures.
Will Dell Disclose Bitcoin Purchases?
Bitcoin enthusiast Daniel Sempere Pico speculated on X (formerly Twitter) if Dell will disclose BTC purchases. He shared a screenshot from June 2024 of a post by Michael Dell, CEO of Dell Technologies, which featured the Cookie Monster humorously “eating” a Bitcoin.
This playful image, paired with another post by Michael Dell regarding the value of scarcity, has fueled rumors.
Read more: Who Owns the Most Bitcoin in 2024?
If Dell Technologies made any investments in Bitcoin from April to June 2024, it would be obligated to disclose these during the earnings call. This requirement has the crypto community eagerly awaiting the earnings call, hopeful for big news.
“The Bitcoin bull market is going to be insane. If Dell has Bitcoin on their balance sheet, no one is prepared for what is coming,” a social media user known as the Bitcoin Therapist commented.
Additionally, Michael Dell’s interactions have added to the speculation. In July, he shared a video of BlackRock CEO Larry Fink discussing Bitcoin, further intensifying the rumors.
Dell’s historical engagement with Bitcoin began with accepting it as a payment method in 2014. However, the company had to discontinue Bitcoin payments in 2017 due to low demand and high transaction fees.
Update: Dell Technologies did not add Bitcoin to its balance sheet in Q2.
Nonetheless, many other firms are also holding Bitcoin on their balance sheets. Earlier this week, Semler Scientific announced its purchase of additional Bitcoin, now holding a total of 1,012 Bitcoins valued at approximately $68.0 million.
Eric Semler, chairman of Semler Scientific, emphasized the growing institutional adoption of Bitcoin.
“We are encouraged by the growing institutional adoption of bitcoin. It was recently reported that for the first time, institutions own more than 20% of bitcoin ETF assets under management. We believe this increasing institutionalization will drive value for both bitcoin prices and for our stockholders,” Semler said.
Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know
Moreover, heavyweights like Goldman Sachs and DRW Capital have also revealed substantial investments in cryptocurrencies, with over $600 million in Bitcoin and Ethereum ETFs combined. These disclosures, detailed in recent 13F filings with the SEC, highlight the growing interest in digital assets among established investors.
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