(Bloomberg) — Palantir Applied sciences Inc. stated it’s getting ready for an additional “black swan occasion” by stockpiling gold bars and alluring clients to pay for its knowledge evaluation software program in gold.
The corporate spent $50.7 million this month on gold, a part of an uncommon funding technique that additionally contains startups, blank-check corporations and probably Bitcoin. Palantir had beforehand stated it might settle for Bitcoin as a type of cost earlier than including treasured metals extra lately.
A spokeswoman for Palantir stated nobody has but paid in both Bitcoin or gold. Accepting nontraditional currencies “displays extra of a worldview,” Shyam Sankar, the chief working officer, stated 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 shall be saved 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 way in which out. 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 stated in an earlier monetary report in Could that it was contemplating investing in Bitcoin.
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