Palantir, a major player in the software and data analytics scene, is the latest company to accept Bitcoin payments. The company announced that in addition to accepting Bitcoin payments, it is also considering adding the digital asset to its balance sheet.
Peter Thiel, the co-founder of Palantir, has been a long-standing proponent of cryptocurrency. Thiel is also the co-founder of PayPal. So, it comes as no surprise that Palantir is making an entry into the cryptocurrency space.
Along with several other traditional companies, PayPal unveiled a range of cryptocurrency payment services last year.
Thiel is no newcomer to cryptocurrency investments. He began investing in cryptocurrency mining startups and exchanges as far back as 2018. Yesterday, Block.one, another Thiel-backed software company, launched a new crypto exchange called ‘Bullish,’ a project backed by a whopping $10 billion in funding.
The tides are changing
Compared to two years ago, big companies are now embracing cryptocurrencies. What started with a few companies like MicroStrategy purchasing Bitcoin back in 2020 has blown into a full-scale adoption, with many large players now accepting Bitcoin.
Looking at the flow of events, one can say with certainty that more companies will start accepting Bitcoin, and more investors will store portions of their wealth in cryptocurrencies.