Intel Now Owns Coinbase Shares, Surprising Investor


Intel, a computer chip manufacturer, has entered the cryptocurrency industry with a modest stake in Coinbase. Intel Corp., a multinational firm based in the United States, has announced that it has purchased shares in Coinbase, America's largest bitcoin exchange. The Santa Clara, California-based tech firm now holds a little more than 3,000 COIN stocks.

  • Intel Corporation, founded in 1968, is one of the world's largest technology corporations, with revenue approaching $80 billion last year.
  • According to recent reports, the behemoth has gained exposure to the cryptocurrency field by purchasing stock in one of the industry's most well-known companies.
  • Intel had revealed that it had purchased 3,014 shares of Coinbase, which it had held at the end of June.
  • The largest US market, NASDAQ, became public in mid-April, as previously reported. COIN equities were trading around $400 at the time, with a total market capitalization of more than $100 billion.
  • COIN's price dropped as a result of the subsequent market turmoil, closing at $261 on Friday. As a result, Intel's total allocation is currently valued at about $800,000.
  • Despite the fact that Coinbase has been a publicly traded company since April, the report suggested that Intel may have invested in the exchange prior to its initial listing.
  • Cathie Wood's investment management firm, ARK Invest, is another company that has invested in the trading platform.

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