Over the past couple of years, the crypto industry has marched a long-way forward. The users have flooded for crypto-assets and the trading volume has surged to the peak. In fact, many were not aware of cryptocurrencies a few years back but now it has created an impact and the world has adopted it vastly.
As the crypto-space expands, the awareness has spread widely and many popular entities have known the importance of the crypto-market. Intel is an American multinational corporation that has had a history since 1968. The firm has revealed its investment in Coinbase (COIN), a crypto exchange platform.
According to the article from Barron’s on Friday, the tech-giant Intel has recently purchased shares of Coinbase, a global cryptocurrency-exchange. Intel holds about 3,014 of Coinbase as per the disclosed statement at the end of Quarter 2, 2021.
Moreover, the statement did not specify the holdings of shares in the first quarter. Following the direct listing in Nasdaq, Coinbase shares took place to trade publicly in April. Although the Coinbase shares are small, Intel was required to reveal it to the Securities and Exchange Commission as it holds more than $100 million in publicly traded investments.
Intel’s Holding Assets Worth
According to TradingView data, Coinbase’s shares have traded in a range of $210 to $430 per share since their initial public offering. Significantly, COIN closed the trading price at $261.25 per share on Friday. With this price, Intel’s reported end-of-quarter holdings are worth $787,407.50.
Whereas, COIN closed the second-quarter trading price at $253.30 per share at the time of publication, where Intel’s holdings are worth $763,446.20. The article states that Intel may have invested in Coinbase shares before it became public.
Adding to that “Regulatory filings only require companies going public to disclose investors with a stake of 5% or greater.” states Barron’s article. However, Intel has made large investments and it almost owns around $100 million. Some large investments are McAfee, MaxLinear, Shift4Payments, and now Coinbase.
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