Billionaire Peter Thiel’s publicly-traded Palantir Technologies Inc. told Bloomberg it is preparing for a “black swan event” by inviting customers to pay for its data analytics software in Bitcoin.
Notably, the American company announced it would be accepting Bitcoin as a form of payment and hedge against uncertainty, before adding precious metals as well.
A spokeswoman told Bloomberg that no one has paid the firm in Bitcoin yet. COO of Palantir Shyam Sankar commented that accepting Bitcoin “reflects more of a worldview.”
“You have to be prepared for a future with more black swan events,” he added.
Sankar went on to describe the culture at Palantir as more of an “artist colony” than a traditional big tech company.
As the Bitcoin price climbs back up it incentivizes companies such as Palantir to use it as a store of value, for the $2.3 billion in depreciating cash the company reportedly has in reserve. The company announced in May that they were interested in buying Bitcoin.