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Peter Thiel’s Palantir Now Accepts Bitcoin Payments, ‘Thinking’ About Treasury Investment
In a Tuesday earnings call, CFO Dave Glazer said bitcoin on the balance sheet is “definitely on the table.”
By Danny Nelson
Updated May 9, 2023, 3:19 a.m. Published May 11, 2021, 1:44 p.m.
Palantir Technologies is “open for business” when it comes to bitcoin, CFO Dave Glazer said on the company’s Tuesday earnings call.
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The publicly traded software company has begun accepting the crypto as a form of payment, he said. Additionally, investing in bitcoin as a treasury reserve asset is “definitely on the table.”
Palantir would hardly be the first big data company with bitcoin on the balance sheet. Analytics competitor MicroStrategy, also publicly traded, is over $2 billion deep in digital gold. Tesla accepts bitcoin and has invested $1.5 billion in it.
Read more: Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments
Glazer, who was answering an earnings call question, did not elaborate on the timeline for parking reserve assets in BTC other than to say Palantir is “thinking about it internally.” But he noted Palantir has $151 million in adjusted free cash flow that could go toward bitcoin “and other investments.”
Peter Thiel, Palantir’s co-founder and chairman, has invested in a number of crypto startups through his funds. His venture capital firm made a $15 million-$20 million bet on bitcoin in 2017.
Palantir did not immediately respond to CoinDesk emails.
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