Data analytics firm Palantir, known for its shady dealings with the CIA has purchased over $50 million worth of 100-ounce gold bars to shield itself from “future black swan events,” (major unexpected financial events) COO Shyam Sankar told Bloomberg.
“Such purchase will initially be kept in a secure third-party facility located in the northeastern United States and the Company is able to take physical possession of the gold bars stored at the facility at any time with reasonable notice,” the company’s second-quarter earnings report noted.
Sankar, also said that the shift toward gold “reflects more of a worldview,” as investing in the precious metal is a hedge against negative financial events in the future.
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