Palantir Says It Might Add Bitcoin to Stability Sheet

Palantir Applied sciences, an American massive knowledge software program firm, is contemplating including Bitcoin to its stability sheet, per an announcement on its earnings name on Monday.

Along with Bitcoin, Palantir additionally mentioned that it may additionally take into account holding different cryptocurrencies on its stability sheet.

What’s Palantir Applied sciences?

Palantir Applied sciences was co-founded by PayPal co-founder Peter Thiel and went public by way of direct itemizing (the identical method taken by crypto alternate Coinbase) in September of final yr.

Thiel not too long ago described Bitcoin as a “monetary weapon” for China, saying the nation’s method to the crypto trade ought to concern america. He has additionally opened a Bitcoin mining facility in Texas. 

Palantir has reportedly relied heavily on authorities contracts for income. In February of final yr, the corporate scored an $800 million contract with the Division of Protection. 

Throughout the pond, Palantir reportedly benefitted from a £46 million ($65 million) contract from the British authorities as a part of its response to the COVID-19 pandemic. In keeping with Politico, the agency additionally gained “privileged entry” to a number of UK authorities officers within the months previous to the contract was secured.

Palantir inventory (PLTR) is down 22% in 2021 to this point, so some onlookers would possibly see the Bitcoin announcement as a short-term effort to spice up shares.

Source link