Dell Technologies says no to Bitcoin treasury plan, with full support from the U.S. SEC.

A recent proposal asking the company to consider holding Bitcoin as part of its financial strategy was rejected. And now, the U.S. Securities and Exchange Commission (SEC) has supported Dell's decision. By Michael Nusbaum.

Dell Technologies, the multi-billion dollar giant, has no plans to add Bitcoin to its treasury. A recent proposal by a shareholder to introduce Bitcoin into the company’s financial strategy has been rejected, and now the U.S. Securities and Exchange Commission (SEC) has sided with Dell in this matter.

Here’s a breakdown of what happened and why Dell said no to Bitcoin.

Shareholders Want Dell to Add Bitcoin

Earlier this year, the National Center for Public Policy Research (NCPPR) urged Dell to consider using Bitcoin as an alternative to cash and bonds in its treasury.

The group, based in Washington, D.C., highlighted the high inflation rates and Bitcoin’s increasing recognition as a hedge against inflation in their request to Dell.

They also mentioned BlackRock’s recent recommendation of a 2% allocation to BTC in a diversified portfolio. NCPPR believes that including Bitcoin could help the company's money go further during times of inflation, similar to how MicroStrategy has successfully used Bitcoin in its treasury.

Dell Rejected the Idea – SEC Supports

However, Dell declined the request, prompting the company to request the SEC to exclude this proposal from its 2025 shareholder meeting.

On May 8, the SEC responded to Dell’s request, stating that there were no issues with omitting the proposal from the upcoming proxy statement.

The agency explained that this type of decision falls under “ordinary business operations,” over which a company has discretion.

In essence, the SEC's response was that it's up to management, not shareholders, to decide what to do with the cash.

Dell argued that being forced to include the proposal would limit their flexibility and ability to make optimal decisions on complex financial issues.

Michael Dell’s Past Bitcoin Post

Interestingly, some anticipated Dell might be open to Bitcoin after CEO Michael Dell posted a meme of Cookie Monster devouring Bitcoin last year.

He also touched upon the concept of “scarcity creating value,” a notion frequently emphasized by Bitcoin proponents.

However, Dell has made its stance clear—while it's observing the cryptocurrency market, at least for now, it's not planning to introduce Bitcoin into its treasury.