Peter Thiel, a billionaire, founded Palantir, a $30 billion Colorado-based Data Analytics company. Palantir is a Data Analytics Giant. The firm decided to add Bitcoin as it is definitely on the table for consideration as a treasury reserve asset.
CNBC reported about Palantir accepting Bitcoin. During the earnings call for the first quarter of 2021, the firm said it had begun accepting Bitcoin (BTC) payments. Additionally, the firm is mulling to follow Tesla and MicroStrategy’s footsteps by adding Bitcoin to its balance sheet.
In addition, the firm also said that Crypto asset was definitely on the table. The firm likely has more than $2 billion in cash for the Investments.
MicroStrategy was one of the first significant firms to adopt Bitcoin as a reserve asset. It also made several multi-million-dollar Crypto purchases in 2020 and 2021.
Tesla entered the Crypto space in February after announcing that it had bought $1.5 billion worth of Bitcoin. This car manufacturer later sold 10% of its Crypto holding to prove the liquidity of Bitcoin as an alternative to hold cash on its balance sheet.
Thiel also helped PayPal. PayPal launched Crypto trading in late 2020. In addition, Venmo, the PayPal-owned payment platform, introduced Crypto trading for BTC, Ether, Litecoin, and Bitcoin cash in April.