by confoundedinterest17
- Firm spent $50.7 million on 100-ounce gold bars in August
- Prospects can now pay for software program in gold or Bitcoin
Palantir Applied sciences Inc. mentioned it’s getting ready for an additional “black swan occasion” by stockpiling gold bars and welcoming clients to pay for its information evaluation software program in gold.
The corporate spent $50.7 million this month on gold, a part of an uncommon funding technique that additionally consists of startups, blank-check firms and presumably Bitcoin. Palantir had beforehand mentioned it could settle for Bitcoin as a type of cost earlier than including valuable metals extra lately.
A spokeswoman for Palantir mentioned nobody has but paid in both Bitcoin or gold. Accepting nontraditional currencies “displays extra of a worldview,” Shyam Sankar, the chief working officer, mentioned in an interview. “You need to be ready for a future with extra black swan occasions.”
The gold buy was buried in a securities submitting final week for its quarterly monetary outcomes and reported earlier this week by Barron’s. The acceptance of gold as a type of cost hasn’t been beforehand reported.
Palantir’s 100-ounce gold bars will probably be stored in a safe location within the northeastern U.S., in keeping with the submitting. “The corporate is ready to take bodily possession of the gold bars saved on the facility at any time with affordable discover,” Palantir wrote.
Palantir, co-founded by the know-how billionaire Peter Thiel and Chief Govt Officer Alex Karp, makes software program utilized by governments and companies. It fashions itself as an organization of free thinkers. Palantir relocated to Denver final yr and mocked its friends in Silicon Valley on the best way out. Within the interview, Shyam in contrast Palantir’s tradition with an “artist colony,” somewhat than a tech firm churning out software program on an meeting line.
Governments have strongly embraced Palantir software program to assist them make sense of the coronavirus pandemic, the present so-called black swan, a random and unpredictable occasion.
The corporate has some $2.3 billion in money and is exploring artistic makes use of for that cash. Palantir mentioned in Might that it was contemplating investing in Bitcoin. And it’s taking stakes in startups which are clients of Palantir software program, an method that helped buoy gross sales outcomes within the second quarter.
Here’s a chart of the US Greenback, Bitcoin, and Gold over the previous yr.
Black swan occasion? What may presumably go incorrect??
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