Black Swan approaching? Palantir, the most mysterious big data analysis company in Silicon Valley, has hoarded more than $50 million in gold bars and may invest in bitcoin in the future.

(North America) on Tuesday, while some companies, such as Tesla (Tesla), were diversifying their business into bitcoin, data analysis software company Palantir was betting on gold. Palantir disclosed in its latest earnings report that it bought $50 million in gold bars in August and accepted gold payment methods.

The move reflects a growing company keeping cash in unconventional assets in response to economic uncertainty caused by the novel coronavirus pandemic and the government's response.

Palantir said it was preparing for another "black swan" incident in which it hoarded gold bars and invited customers to buy its data analysis software with gold.

According to an unusual investment strategy, the company also invests in startups, blank check companies / SPAC, and possibly even bitcoin. 'no one has paid in bitcoin or gold yet,'a Palantir spokesman said.

"you have to be prepared for more black swans in the future," the company's COO said. The company has about $2.3 billion in cash and is exploring how to use it creatively.

Last year, with the deterioration of the novel coronavirus epidemic and the continuation of the US government's economic stimulus policy, the price of gold exceeded 2000 US dollars for the first time. Investors have expressed their concerns about inflation more strongly this year, and gold is sometimes seen as a hedge against inflation, but the price of gold has fallen 7% so far this year. Some investors believe that cryptocurrencies could also play this role.

"in August 2021, the company bought $50.7 million worth of 100-ounce gold bars," Palantir said in its second-quarter earnings report on Aug. 12. "the purchased gold bars will initially be kept in a secure third-party facility located in the northeastern United States, where the Company can obtain the gold bars stored in the facility at any time with reasonable notice."

Palantir Chief Financial Officer Glazer (Dave Glazer) told analysts on a conference call last week that Palantir is now debt-free after completing a direct listing and listing on the New York Stock Exchange in September. Revenue has accelerated for two consecutive quarters, with 20 new customers joining in the second quarter.

Glazer said Palantir is investing to grow, recruiting more than 100 salespeople in the past two quarters and plans to continue hiring quickly.

The company is still unprofitable. At the same time, its cash supply has been growing, thanks in part to stock issuance and stock option exercise gains.

This gives Palantir the opportunity to invest in its own clients, including early-stage companies, which are very different from existing government clients such as the U.S. Department of Health and Human Services. These investments include companies listed through a merger with special purpose acquisition firm (SPACs), such as AdTheorent, Fast Radius, FinAccel and Tritium, according to the financial report.

After investing in gold, Palantir may expand into cryptocurrency. Asked on an analyst conference call in May whether the company would add bitcoin or other currencies to its balance sheet, Glazer said, "the short answer is, yes, we're thinking about it. We even discussed it internally."

Founded in 2004, Palantir has long been recognized as the most mysterious big data analytics company in Silicon Valley until the best-selling book "from 0 to 1" was published in 2014 because its author, Peter Thiel (Peter Thiel), is the founder of Palantir. With Palantir's debut on the New York Stock Exchange on Sept. 30, 2020, the company was in the spotlight.

Palantir has kept a low profile because of its long-term service to the US intelligence agencies and national security agencies with a high level of secrecy. In 2008, Palantir helped FBI, of the FBI consolidate 40 years of transaction records, analyzed vast amounts of data, and finally discovered Madoff's "Ponzi scheme."