Palantir Technologies, the American software company that is supported by Peter Thiel and specializes in big data analytics, announced on Tuesday that the company would accept Bitcoin for services. Like a multitude of companies that accept and hold Bitcoin, Palantir is also considering keeping the asset on its balance sheet.
Palantir enters the crypto economy
On Tuesday, Palantir Technologies announced that the company would accept Bitcoin as a payment method from customers, according to a report published by Reuters. The report followed Palantir’s income statements for the first quarter, claiming Palantir was considering holding the bitcoin it earned.
Palantir confirmed that they are accepting Bitcoin as a form of payment in their call for earnings this morning.
They also said they are considering adding Bitcoin to their balance sheet.
Bitcoin is inevitable.
– Pomp 🌪 (@APompliano) May 11, 2021
The company is supported by the investor Peter Thiel, who co-founded the company in 2003 and was the largest shareholder until 2014. The company’s name comes from the “Lord of the Rings” series, in recognition of the “seeing stones” in the book called “palantíri”. “Palantir’s software and data analytics have been an integral part of the company’s two largest customers, the US Department of Defense and the United States Intelligence Community (USIC).
The Company released The result of the first quarter was reported with a sales growth of 49% in the first quarter. Palantir expects additional revenue of $ 360 million in the second quarter, which is above the estimate of a recent refinitive survey.
A financial weapon and a “deeply contrary” investment
Thiel has been a digital asset advocate for some time and claims to be so in 2018 He was “Long Bitcoin” and believed that institutional investors would eventually get into the crypto economy. In the same year, the PayPal co-founder emphasized that Bitcoin was a “deeply contrary“Investment. Recently, Thiel alluded to China with Bitcoin (BTC) as a financial weapon against the United States.
When speaking of the US in relation to blockchain innovation, Thiel said:
I suspect we will not be at the forefront of that front row where an authoritarian regime like China sees almost all of the benefits of being able to issue or take currency.
Palantir’s Bitcoin acceptance was welcomed from crypto advocates on social media and discussions about company involvement have started to set trends. “I think it’s only good for business, no matter what the motive” said one of the many commentators.
What do you think of the announcement that Palantir will accept Bitcoin as a form of payment from customers and possibly hold the crypto asset? Let us know what you think on this matter in the comments section below.
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