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Bitcoin being added to Balance Sheets

Monday 17th May, 2021

American software company Palantir is considering adding bitcoin to its balance sheet, the firm provides analytics tools to the defence industry and large corporations.

Chief Financial Officer David Glazer said in the company's first-quarter earnings call that bitcoin was "definitely on the table" and that it would also consider holding other cryptocurrencies on its balance sheet.

When asked, "Could you ever see Palantir having bitcoin or any other type of cryptocurrency on its balance sheet?" Glazer answered, "The short answer is yes, we're thinking about it, and we've even discussed internally. Take a look at our balance sheet, $2.3 billion in cash at quarter end, including $151 million in adjusted free cash flow in Q1. So, it's definitely on the table from a treasury perspective, as well as other investments, as we look across our business and beyond." CNBC reported.

The UK division Palantir was recently selected as a Crown Commercial Service supplier.

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