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Data analytics giant Palantir now accepts Bitcoin payments

May 11, 2021. Summarized by summa-bot.

Compression ratio: 45.4%. 1 min read.

During its earnings call for the first quarter of 2021, Palantir said it was accepting Bitcoin payments and would consider the cryptocurrency as a reserve asset.

In addition, the firm is mulling following in Tesla’s and MicroStrategy’s footsteps by adding BTC to its balance sheet, saying the crypto asset was “definitely on the table. ” Palantir likely has more than $2 billion in cash on hand for investments.

The car manufacturer later sold 10% of its crypto holdings “to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet. ”

In April, PayPal-owned payments platform Venmo introduced crypto trading for BTC, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

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