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Dublin: 4 °C Wednesday 11 December, 2019
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Dell is now the largest company to accept payments in Bitcoin

The computer giant’s CEO Michael Dell made the announcement on Twitter.

Image: bitcoin via Shutterstock

COMPUTER GIANT DELL is now the largest e-commerce company to accept payments using the virtual currency Bitcoin.

CEO Michael Dell made the announcement on Twitter last week.

The company, which had a turnover of almost $57 billion (€42 billion) last year, is the latest in a wide range of organisations to begin accepting the payment.

It will be working with Coinbase to provide the service.

Ireland’s Central Bank has erred on the side of caution when it comes to crypto-currencies.

Just last week, the Central Bank issued a notice that the European Banking Authority (EBA) is recommending that financial authorities actively discourage institutions from trading in the currencies.

“Consumers should note that virtual currencies remain unregulated, thus there remains no regulatory protections for consumers when holding, buying or selling virtual currencies,” the statement from the Central Bank read.

Minister for Finance Michael Noonan said earlier this year that the Revenue Commissioners are actively monitoring the situation to ensure that the currency is not being used to ‘circumvent taxes’.

Read: Central Bank urges Bitcoin to learn from the mistakes of the last financial crisis >

More: Apple approves first bitcoin trading app after policy change >

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Nicky Ryan

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