Palantir Buys $50.7 Million in Gold Bars to Hedge ‘Black Swan Event’

Palantir Technologies Inc. has purchased nearly $51 million in physical gold so far in August and may accept payment in gold in the future, according to a filing from the software company’s second quarter financial results.

article-image

Source: Shutterstock

share
  • The gold purchase was made in the form of 100-ounce gold bars
  • Palantir, co-founded by CEO Alec Karp and technology mogul Peter Thiel, creates softwares used by the government and corporations

In preparation for a “black swan event,” Palantir Technologies Inc. has purchased nearly $51 million in physical gold so far in August and may accept payment in gold in the future, according to a filing from the software company’s second quarter financial results. 

Palantir, co-founded by CEO Alec Karp and technology mogul Peter Thiel, creates softwares used by the government and corporations.  

Dan Tapiero, founder and CEO of 10T Holdings weighed in on the news of the purchase on Twitter.

Loading Tweet..

The gold purchase was made in the form of 100-ounce gold bars, which “will initially be kept in a secure third-party facility located in the northeastern United States,” according to the filing.  

Palantir Gotham, one of the company’s artificial intelligence platforms, is used by counter-terrorism analysts at offices in the United States Intelligence Community (USIC) and United States Department of Defense, according to Palantir. Gotham compiles and analyzes large amounts of information using AI algorithms to help organizations, including the US military, make data-driven decisions. 

“I think it is interesting that a firm that reportedly has close ties to the US Defense and Intelligence establishments is buying gold, especially since it is reportedly being bought to hedge ‘black swan’ events,” said Luke Gromen, founder of Forest For the Trees LLC. “We’ll have to see if there is anything more to it than that.”

Palantir, which made its public market debut in September 2020, reported higher-than-expected revenue for the second quarter of 2021 after closing more than 62 deals, each worth $1 million or more. 

At time of publication, gold was trading down 0.4% at $1,787.50 per ounce. 

Source: Goldprice.orgSource: Goldprice.org

Want more investor-focused content on digital assets? Join us September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket. Buy it now.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /