The post Bitcoin On The Radar? Dell’s Q2 Results Provide Clarity appeared on BitcoinEthereumNews.com.

Dell Technologies’ Q2 2024 earnings results had the crypto industry on the edge of its seat, anticipating the company might become the latest to add Bitcoin (BTC) to its balance sheet. No Bitcoin Purchases For Dell Yet Despite CEO Michael Dell’s cryptic posts on social media platform X highlighting Bitcoin’s digital scarcity, Dell Technologies has yet to add any BTC to its balance sheet, Q2 earnings results confirm. Michael Dell’s recent series of posts on X indicated that the billionaire CEO might be bullish on the long-term potential of the leading digital asset.  Michael Dell reposting acclaimed Bitcoin bull Michael Saylor’s posts heightened the excitement about Dell potentially adding BTC to its balance sheet. However, the latest earnings report has tempered the crypto industry’s enthusiasm for now. Michael Dell reposts Michael Saylor’s post on Bitcoin | Source: x.com The earnings filings make no mention of any BTC purchases made in the second quarter of 2024. While the report notes that the company’s Q2 2024 revenue was $24 billion – up by 9% year-over-year (YoY) primarily fuelled by growing demand for AI – BTC or any other cryptocurrency did not find any mention in the report or the company’s earnings call. The lack of Bitcoin in Dell’s balance sheet instigated mixed reactions on X. Some users opined that no major company will buy BTC until it solves its quantum threat. Others commented that a company as big as Dell could buy between $25-$100 million of BTC without being required to disclose it in their GAAP financials, due to it being deemed immaterial. For the uninitiated, materiality in accounting refers to the significance of an amount, transaction, or discrepancy. If an item is deemed immaterial, it means its inclusion or omission would not impact the decision-making process of a reasonable investor or…

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Filed under: News - @ August 31, 2024 1:08 am