Data analytics investor inquires as to whether Palantir will have bitcoin or any other cryptocurrency on its balance sheet, to which Palantir’s CFO, David Glazer said: “also considering holding bitcoin on its balance sheet, potentially joining the likes of Microstrategy, Tesla, Square and other firms in due course.
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During the call, an investor inquires as to whether Palantir will have bitcoin or any other crypocurrency on its balance sheet, to which Palantir’s CFO, David Glazer said: “the short answer is yes. We’re thinking about it and we’ve even discussed it internally. If you take a look at our balance sheet there’s $2.3 billion in cash at quarter-end including $151 million in cash flow in Q1. So it’s definitely on the table from a treasury perspective as well as other investments as we look across our business and beyond.”
He went on to say that “in terms of accepting bitcoin from our customers, we do accept it as a form of payment. We’re open for business there.”
Palantir is a publicly listed company with a total market capitalisation of $37 billion. The tech firm was founded by PayPal co-founder Peter Thiel, whose Founders Fund venture capital firm bought some $15 million worth of bitcoin in 2017. Palantir reported 49% revenue growth in the first quarter of 2021.
More Companies to Announce Bitcoin on their Balance sheets?
In accepting bitcoin for payment, Palantir is among a wave of many large companies that have jumped on the bitcoin bandwagon, including WeWork and Caruso. If the firm goes through with holding bitcoin on its balance sheet, it might have to step on the gas. Just last week, rumours about Facebook potentially being interested in bitcoin circled the internet after Mark Zuckerberg posted his goats on Facebook – apparently named Max and Bitcoin.
Earlier today, Binance CEO CZ suggested that Facebook should allow bitcoin payments first before worrying about issuing their token. As the interest and gossip builds, all eyes will be on Facebook’s annual shareholder meeting on May 26th (10:00 PST) for any potential revelations.
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