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Palantir Technologies Accepts Bitcoin Payments, Would possibly Absorb On Steadiness Sheet

Palantir Technologies Accepts Bitcoin Payments, Would possibly Absorb On Steadiness Sheet

Peter Thiel’s knowledge analytics firm Palantir Technologies is accepting bitcoin funds and ought to clean soon contain BTC on its balance sheet.

Knowledge analytics firm Palantir Technologies announced within the midst of a recent earnings name that it accepts bitcoin as a create of price from clients and is serious about maintaining BTC on its balance sheet.

“All by the name, an investor asked ‘would possibly per chance presumably you ever survey Palantir having bitcoin or every other form of cryptocurrency on its balance sheet?’” in accordance with TheStreet Crypto. “In response, Palantir’s CFO, David Glazer acknowledged, ‘The short reply is sure. We’re serious about it and we’ve even discussed it internally. At the same time as you occur to rob a be taught about at our balance sheet there’s $2.3 billion in cash at quarter-finish along with $151 million in cash drift in Q1. So it’s positively on the desk from a treasury level of view besides other investments as we explore all over our substitute and beyond.”

Glazer went on to stamp that “in phrases of accepting bitcoin from our clients, we attain accept it as a create of price. We’re commence for substitute there.”

Palantir is a publicly-traded firm with a market capitalization of larger than $37 billion. It became founded by PayPal cofounder Peter Thiel, whose Founders Fund project capital firm bought some $15 million value of bitcoin in 2017. Palantir reported 49% income articulate within the first quarter of 2021.

In accepting bitcoin for price, Palantir is among a wave of many other huge firms that bear today added this option — along with, Camping World, WeWork and Caruso. And if it had been to note by on its consideration and contain BTC on its balance sheet, Palantir would possibly per chance presumably per chance be a a part of the likes of Tesla, MicroStrategy, Square and Nexon.

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