Michael Dell believes that Blockchain is underrated

With the massive adoption of cryptocurrency and blockchain technology, many institutional investors are coming to the industry, but Michael Dell believes that Blockchain is still underrated.

Dell is the founder, Chief Executive Officer (CEO), and chairman of Dell Technologies. In an interview session with New York Times, he recently shared his view on the trending blockchain technology. He said Blockchain seems underrated to him as its full potential and solid technology are still untouched by many.

The concept came into existence in 2008 by Satoshi Nakamoto, and it expresses the 21st century. Satoshi created the king crypto coin, Bitcoin (BTC), which made the technology popular, but there are many systems and applications that have huge potential in them. These systems, created in the last decade, are signaling a revolution that is dramatically affecting important aspects of the economy, including banking, supply chain, and inflation.

Several sectors are recognizing the possibilities and have started to integrate blockchain technology into their systems today. These include famous names like IBM, which are developing blockchain solutions to tackle many issues. 

Michael Dell does not comment on Bitcoin

During the interview, when the interviewer asked his opinions about Bitcoin, he roughly said that he did not want to comment on that. Dell’s harsh reaction goes a long way toward expert investors like Warren Buffett, Berkshire Hathaway’s CEO, for not being a big fan of Bitcoin. Unlike Dell, Buffett openly says that Bitcoin is more like gambling and is overly hyped.

While the CEO and founder Dell displays a neutral stance, the company has actively engaged with Bitcoin. In mid-2014, Dell had a partnership with Coinbase Inc., a Nasdaq-listed crypto trading platform. This partnership was primarily focused on accepting BTC as a payment means for the company’s products and services in America. 

The potential of Bitcoin to control inflation against the banking system begins to be seen by more institutional investors as several firms have started using Bitcoin since last year. Interestingly, Bitcoin has recently achieved a $1.03 trillion market cap.