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A technology company that buys gold. afraid of “black swan”

2021-08-18 12:20

2021-08-18 12:20

A technology company that buys gold.  afraid of
come in. all Stars / / stock struggle

Palantir has spent more than $50 million on gold purchases. The company accepts payments in the form of bars and bitcoins. “We need to be ready for a future with more black swans,” COO Shyam Sankar commented.

Palantir bought 100-ounce gold bars for $50.7 million this month. – The company informed in a press release. For this amount, she should have purchased less than a ton of “royal metal”. The gold is stored in the northeastern United States, but the company “may actually seize it at any time.” Palantir has also invested in tech start-ups, Blind Companies (SPAC) and bitcoin.

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Earlier, the company announced that it accepts payments in bitcoin and precious metals. According to Bloomberg, no customer has yet chosen such an option. Chief Operating Officer Shyam Sankar said accepting non-traditional payment methods “reflects the company’s view of the world”. “We have to be ready for a future with more black swans,” he commented.

Because of Nassim Taleb, the term “black swan” is used to describe events that are difficult to predict and have dire consequences, yet, after the fact, are easy to explain, and even unavoidable.

Palantir is an American data analysis software company. It cooperates with, among other things with government agencies or the US military. Among its founders is billionaire Peter Thiel. It was first floated on the stock exchange almost a year ago – its shares today are two and a half times more expensive, and the market capitalization is close to 50 billion dollars. The company is still not making a profit, but its revenue is growing.

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