Palantir Buys $50 Million of Gold in Case of “Black Swan Event”
Tech CEO, Peter Thiel of Palantir Technologies ($PLTR) purchased $50 million in gold bars—in the case of a “Black Swan Event”. Palantir had previously announced that they would accept cryptocurrency as well as payment in various precious metals.
COO Shyam Sankar said that such payments reflects more of a worldview” and then adding: “you have to be prepared for a future with more black swan events,“ according to Bloomberg.
This contributes to the financial theory that cryptocurrency and precious metals, like gold, are a hedge against financial uncertainty.
Gold was at a spot price of $1,783.45 per troy ounce (2nd London Fixed), at the time of writing.
Apples of Gold Jewelry, fine jewelry, gold, platinum, silver, precious metals, gems and diamonds.
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