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Black swans: Palantir is fighting the crisis with gold and bitcoins | news

Palantir wants to protect itself better against “black swans” in the future

The company has $ 2 billion in cash

The data specialist wants to protect itself with investments in gold and bitcoins

After the corona crisis is before the corona crisis. In order to protect themselves against unexpected events in the future, companies like Tesla protect themselves with cryptocurrencies. The data specialist Palantir has also committed itself to this strategy. In addition, the company also bought gold.

Black swans will be more common in the future

In business, an unexpected event with a significant impact is called a “black swan”. The US provider of software and services Palantir is preparing for this with gold investments. “You have to be prepared for a future with more black swans,” said Shyam Sankar, head of day-to-day business at Palantir, in an interview. – Trade Bitcoin with Plus 500 – that’s how it works. 72% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford to take the high risk of losing your money. – The company was founded by Peter Thiel, among others, and produces different software for the evaluation of data. In addition to the police and the military, Palantir’s customers also include secret services.

Buying gold as part of an investment strategy

According to the Bloomberg news agency, Palantir spent $ 50.7 million on gold purchases this month. In addition, the data specialist now also accepts gold as a means of payment for its analysis services, after the crypto currency Bitcoin. Bloomberg relies on documents from the company that were released as part of the quarterly results for this information. According to the Frankfurter Allgemeine Zeitung, this method is part of an investment strategy that also includes startups and SPAC vehicles. The startups are primarily customers of the company. Palantir has two billion dollars in cash and is trying to find an effective way of using this money. The 100-ounce gold bars that have now been purchased are stored in a safe place in the northeastern United States. At the request of Bloomberg, however, the company announced that no customers had paid with Bitcoin or gold.

Tim Adler / editors

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Image Sources: Michael Vi /, egon999 /

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


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