Data analytics giant Palantir now accepts Bitcoin payments
|The firm added Bitcoin was "definitely on the table" as consideration for a treasury reserve asset.
The $30 billion Colorado-based data analytics company founded by billionaire Peter Thiel now accepts Bitcoin from clients as a form of payment.
According to a CNBC report today, Palantir said during its earnings call for the first quarter of 2021 that it had begun accepting Bitcoin (BTC) payments. In addition, the firm is mulling following in Tesla’s and MicroStrategy’s footsteps by adding BTC to its balance sheet, saying the crypto asset was “definitely on the table.” Palantir likely has more than $2 billion in cash on hand for investments.
MicroStrategy was one of the first major firms to adopt Bitcoin as a reserve asset, making several multimillion dollar crypto purchases in 2020 and 2021. Tesla entered the crypto space in February, announcing it had bought $1.5 billion worth of Bitcoin. The car manufacturer later sold 10% of its crypto holdings “to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”
Thiel also helped found PayPal, which launched crypto trading in late 2020. In April, PayPal-owned payments platform Venmo introduced crypto trading for BTC, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.