In the past few years, Bitcoin (CRYPTO: BTC) has been the best performing crypto investment, with the digital assets now worth six-fold in the past 24 months and worth billions in its lifetime.
The flagship crypto market cap has also exploded to $820 billion or more than a third of the total market supply. However, this uptrend may slow down if investors continue cooling off, making possible bear trend markets for Bitcoin in 2022 to happen.
The nascent technology is rapidly creating a massive cryptocurrency space, including Foundry, previously launched by the data analytics company Palantir Technologies (NYSE: PLTR). Although Bitcoin has a long track record of gains, emerging Palantir’s stock could potentially outpace the flagship crypto this year.
Notably, Bitcoin is down from its previous all-time high in late 2021. In that case, its crypto market remains unpredictable, with many investors anticipating that the crypto market might see similar massive price action as it happened between 2021 and 2021. However, Bitcoin and other digital assets mainly function on a demand and supply market concept.
Palantir Foundry Overview
Cryptocurrencies are generally popular because of their decentralized blockchain technology that allows the public and transparent tracking of ledger transactions. Moreover, its unregulated nature has also attracted many investors in the industry.
However, other hurdles baring society to adopt crypto includes rampant scams and coin “pump and dump” within the crypto industry.
Interestingly, Foundry, new software as a service (SaaS) data platform that interacts with data platforms, helps investors make a reasonable decision. The platform integrates data, performs analytics, builds models, maps, and tracks decision-making.
Foundry offers exposure to crypto-list offerings, including anti-money laundering, fraud detection, and intelligence for decentralized applications and analytics across blockchains.
Palantir’s Foundry also acts as a valuable tool where security and regulation are lacking. Although the crypto industry is speculative, Foundry might grow to be a massive opportunity over the long term.
Palantir May Outpace Bitcoin This year
Bitcoin and Palantir’s stocks are currently down from their respective bullish run highs. Palantir shares are currently trading near 52-weeks lows from highs of $45 per share to the current price of $17.
Palantir’s price–to–sales ratio is down from 48 to less than 17. However, Palantir recently confirmed that the business is still on a path to profitability.
Remarkably, adjusted free cash flow was $119 million in the third quarter of 2021, up from a negative $53 million in 2021.
In that case, the reduced valuation will provide the best opportunity for the investor to acquire shares this year as the business turns to produce free cash flow.
Palantir Technologies has anticipated a growth rate of at least 30% per year in the next four years. If the market starts favoring fast-growing companies again, Palantir’s improving signs will make it a big winner in 2022.
