Warning Sign: Palantir Buys $50M in Gold Bars

Warning Sign: Palantir Buys $50M in Gold Bars

Warning Sign: Palantir Buys $50M in Gold Bars

August 18, 2021 1103 view(s)

Palantir Technologies Inc., which counts Peter Thiel as its largest shareholder, is investing in gold at a time when more U.S. companies are focusing their efforts on cryptocurrencies.

The Denver-based big data company this month bought $50.7 million worth of 100-ounce gold bars, according to a regulatory filing.

The gold will initially be stored by a third party somewhere in the Northeastern United States. Palantir can take delivery at any time after giving reasonable notice.

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