Bitcoin and cryptocurrencies are seeing a major adoption starting this year. Major sectors from various governments to banks to leading financial institutions and enterprises are adopting and supporting bitcoin.
Palantir, a NASDAQ listed public technology company started by serial entrepreneur and billionaire Peter Thiel has today announced that it has started taking bitcoin as a payment option in its platform. Plantir also added in the company’s earnings call that it was considering adding bitcoin to its balance sheet, saying the cryptocurrency was “definitely on the table” as reported by CNBC.
Palantir had its much-anticipated initial public offering last September. The initial price gave Palantir a market cap of $16.5 billion, and the company has since shot up in value. It was worth $30.44 billion as of Monday’s close.
The company reported 49% revenue growth for its first quarter, beating Wall Street estimates. It also came in line with top-line estimates. It said it expects to bring in $360 million in revenue in its second quarter compared with the $344.3 million expected in a Refinitiv survey of analysts. The company’s stock is down over 9 percent in pre-market trading, with the Bitcoin news failing to save the day.