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Palantir Technologies, an American software company, is considering adding Bitcoin to its balance sheet, per an announcement on an earnings call earlier this week.
In addition to Bitcoin, Palantir Technologies said during the earnings call that it might also consider having other cryptocurrencies on its balance sheet.
What is Palantir Technologies?
Palantir Technologies was co-founded by PayPal co-founder Peter Thiel and went public via direct listing (the same approach taken by crypto exchange Coinbase) in September of last year. Peter Thiel has previously described Bitcoin as a "financial weapon" for China, saying the country's approach to the crypto industry should concern the United States. He has also opened a Bitcoin mining facility in Texas.
The data analytics and software company has reportedly relied heavily on government contracts for revenue. In February of last year, the company scored an $800 million contract with the Department of Defense.
Across the pond, Palantir reportedly benefitted form a £46 million ($65 million) contract from the British government as part of its response to the COVID-19 pandemic.
According to Politico, the firm also gained "privileged access" to several UK government officials in the months prior to the contract was secured.