Palantir Technologies now accepts Bitcoin as a means of payment for its services and wants to keep the cryptocurrency on its balance sheet
The data analytics company Palantir Technologies has recently accepted Bitcoin (BTC) as a means of payment for its services. The tech company, owned by billionaire investor Peter Thiel, announced this yesterday during a conference call on its first-quarter results.
The company manufactures software that enables companies and organizations to integrate their data, decisions, and operations into a single platform. It offers these services to numerous customers in different parts of the world.
Now the company listed on the New York Stock Exchange is the latest company to accept BTC as a payment option. The company Tesla of Elon Musk is also one of the heavyweights who supported Bitcoin: recently, electric cars can be paid there with BTC.
Palantir Technologies is also considering adding Bitcoin to its balance sheet. During the conference call, the data analytics company revealed that it may want to hold some of its cash reserves in BTC. Should this happen, Palantir would join a small but growing group of publicly traded companies that hold BTC in their corporate coffers. It would join companies such as Tesla, MicroStrategy, Meitu and Square, which have the leading cryptocurrency on their balance sheet.
The other leading companies of Peter Thiel, PayPal and Venmo, already offer their customers services related to cryptocurrencies. Palantir is introducing the new means of payment at a time when the leading cryptocurrency is struggling to reach the $ 60,000 mark.
Bitcoin has been trading below $ 60,000 in recent days. Since the price reached a new all-time high above $ 64,000, the Bitcoin rally has stalled. Nevertheless, both private and institutional investors are still entering the cryptocurrency market.
Tesla still holds nearly $ 2.5 billion worth of Bitcoin, while MicroStrategy continues to amass BTC. Since the beginning of the year, Bitcoin has risen by almost 100%, but is currently surpassed by Ether and Dogecoin.