The number of corporate entities accepting Bitcoin as a payment option has increased massively over the past few months. Palantir Technologies joins the list after announcing the move earlier today.
Peter Thiel’s Palantir Technologies adds bitcoin payment option
Data analytics company Palantir Technologies has revealed that it now accepts Bitcoin as payment for its services. The company, owned by Peter Thiel, has become the latest to join the cryptocurrency bandwagon.
The company announced this during its earning calls earlier today. Palantir develops software that allows organizations to integrate their data, decisions, and operations into one platform. The data analytics company will now allow its customers to pay for the various services it offers with Bitcoin. This move puts Palantir in the same group as leading companies such as Tesla, who accept bitcoins (BTC) as payment for their products and services.
The $34 billion company further revealed that it is considering adding bitcoins to its balance sheet. If that happens, the New York Stock Exchange-listed company will become the latest corporate entity to include Bitcoin in its holdings. Tesla and MicroStrategy remain the biggest companies with Bitcoin holdings, with billions of dollars invested in the leading cryptocurrencies. Square and Meitu are some of the other leading companies with millions in bitcoins on their balance sheet.
More companies are open to holding bitcoins
Corporate entities and institutional investors have previously stayed away from cryptocurrencies, tagging them as risky assets. However, this narrative has changed in recent months, and more companies now hold bitcoins in their balance sheet. Several others are also considering it.
Peter Thiel’s other companies, PayPal and Venmo, are already active in the cryptocurrency space. This allows millions of their customers to buy, sell, and store several leading cryptocurrencies. Palantir’s entry signals further adoption of Bitcoin, and the trend could continue in the coming months and years.