Wednesday, September 22, 2021
HomeNewsBitcoin alone is not enough: Palantir invests in gold

Bitcoin alone is not enough: Palantir invests in gold

D.he American tech company Palantir has invested just over $ 50 million in gold. This is reported by the business medium Barron’s and the financial service Bloomberg with reference to details in documents published by the company on the occasion of the quarterly figures. The gold investment is therefore part of an extraordinary investment strategy that should also include start-ups, SPAC vehicles and possibly Bitcoin. Palantir had previously announced that it would accept Bitcoin as a means of payment from its customers.

The company founded by Peter Thiel, among others, produces special software for evaluating data. Customers also include authorities and secret services.

The company announced in May that it would also invest in Bitcoin. But now the swing to traditional gold follows. Another new feature is that the company wants to accept precious metals as a means of payment. According to Bloomberg, however, a Palantir spokeswoman said that no customer has yet paid with Bitcoin or gold.

According to the Palantir manager Shyam Sankar, the measure is more of a general attitude. One must prepare for a future with more so-called “black swan events”, so his reasoning. This means unusual and serious crisis events that occur completely unexpectedly for the majority of financial market participants.

According to Bloomberg, the documents submitted by Palantir indicate that the acquired gold bars, each weighing 100 ounces, are to be stored in a safe place in the northeastern United States. The company can access the gold bars stored there at any time – within the usual time limits.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


Please enter your comment!
Please enter your name here

Trending News

Recent Comments