Dell becomes largest company to accept bitcoin

Dell has started accepting bitcoin payments on its website.

This is what they tweeted:

Lately we have had a lot of computer companies accepting bitcoin. Tiger Direct started accepting bitcoins a few months back and its main competitor Newegg takes it too now.

Impact on Price

Whether this development is positive for the price remains to be seen. Greater merchant acceptance tends to unlock early adopters holdings. The merchants themselves usually don’t hold bitcoins. Instead, their payment processor converts those bitcoins to fiat immediately. New fiat doesn’t come in and so the price goes down. It’s certainly good news in the long term but we also need greater adoption by consumers.