June 14, 2021

Palantir software maker starts accepting bitcoins for payment

The company, created by the founder of PayPal, also admits that it will buy cryptocurrency itself in the future.

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American software company PalantirTechnologies has begun accepting bitcoin as payment, CNBC reports, citing an investor conference call for the first quarter of 2021. Palantir also allows the purchase of cryptocurrencies in the future.

Palantir creates software that analyzes andprotects information such as phone calls, financial data, photos, and social media messages. The company initially began supplying the product to US intelligence to aid in investigations and counterterrorism operations.

Palantir was founded in 2003 by PayPal founder Peter Thiel and his former colleagues Alex Karp, Stephen Cohen, Nathan Gettings and Joe Lonsdale, known as the "PayPal Mafia."

In the first quarter of 2021, the company managed to increase its revenue by 49% ($ 341 million). This is higher than the forecasted revenue by Refinitiv analysts ($ 332 million). Palantir currently has 149 clients.

Palantir went public in September 2020,by directly listing shares on the New York Stock Exchange. The cost of one share after the start of trading was $ 10. At 6:30 PM ET on May 11, the stock is worth $ 19.8 and Palantir has a market cap of $ 37.2 billion, according to TradingView.

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