Palantir to Begin Accepting Bitcoin Payments


Palantir, a software and analytics firm, has joined the growing list of companies accepting Bitcoin (BTC) payments. The company made the announcement earlier today, adding that it was also considering holding Bitcoin or other cryptocurrencies on its balance sheet.

As far back as 2018, Peter Thiel, the co-founder of Palantir, has been making crypto-related investments, making a bid on the come-up of Bitcoin and blockchain technology.

Earlier today, (a Thiel-backed software company) announced the launch of a new cryptocurrency exchange named ‘Bullish.’ The new project has a whopping $10 billion in funding, with Thiel Capital being one of the leaders in this funding round.

What began with a wave of small businesses and organizations accepting Bitcoin and cryptocurrency payments has become a massive trend in 2021, as hordes of institutional players buy into it.

With more companies accepting Bitcoin payments and investors moving portions of their wealth into cryptocurrencies, there is a real financial risk just on the horizon for companies that fail to adopt the new payment system. Many speculators believe that a time is coming when it would be too expensive to not accept Bitcoin payments.

Key BTC Levels to Watch — May 11
After suffering a 10% drop to the $53,400 support from yesterday’s high of $59,585, Bitcoin appears to be in recovery mode above $56k. The primary cryptocurrency faces the immediate task of clearing the crucial $56,700 resistance to cement a bullish recovery path to the $58k level.

BTCUSD – Hourly Chart

That said, BTC stands a risk of falling to the $55k level, once again, if it stalls too long below the $56,700 – $57,000 resistance area.

Meanwhile, our resistance levels are at $56,700, $57,500, and $58,000, and our key support levels are at $55,000, $54,000, and $53,400.

Total Market Capitalization: $2.47 trillion

Bitcoin Market Capitalization: $1.07 trillion

Bitcoin Dominance: 42.7%

Market Rank: #1


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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.