Targeting Gold, Bitcoin, and Big Data Star Palantir, Ready to Fight the "Black Swan"

Facts have proved that Palantir, a star big data analysis company that has been controversial since its inception, is still "heretical" even after it went public.

Palantir disclosed on Tuesday, Eastern Time, that it spent $50.7 million in August this year to purchase some 100-ounce gold bars. The initial gold purchased will be stored in a third-party facility in the northeastern United States. It also stated that hoarding gold bars is to prepare for the next "black swan event."

Palantir also allows customers who purchase its data analysis software to pay with gold. The media said that this move is part of Palantir's unusual investment strategy. The company intends to invest in start-ups, blank check companies and Bitcoin.

A previous article in Wall Street Journal mentioned that when Palantir announced its first-quarter financial report in May this year, its Chief Financial Officer David Glazer revealed that Palantir provides customers with the option of paying via Bitcoin, and the company is also considering investing in Bitcoin or other cryptocurrency assets.

A Palantir spokesperson said on Tuesday that no customers have yet paid in Bitcoin or gold. However, the company's chief operating officer, Shyam Sankar, explained that accepting non-traditional currencies is more about reflecting a worldview: "You have to prepare for a future with more black swan events."

Some media pointed out that although companies such as Tesla are also diversifying their investments and buying Bitcoin, they have not bet on gold like Palantir. Palantir currently holds $2.3 billion in cash and is studying creative ways to use these funds. The purchase of gold bars reflects that in the face of economic uncertainty caused by the new crown pneumonia epidemic, a growing company is investing funds in non-traditional assets.

Gold is often seen as an inflation hedge, but it has performed poorly this year as the market worries about the Fed's early reduction of QE. As of Tuesday's close, the main contract of New York gold futures has fallen by more than $100 since the beginning of this year, a percentage drop of more than 5%.

Some investors believe cryptocurrencies could play this traditional role of gold.

In April this year, Bitcoin rose above $60,000 to a record high, more than twice the low at the beginning of the year. Although it fell back to more than $30,000 in May, it returned to $40,000 this month.