As of the time of writing, Intel had a minor position of COIN shares, which were worth between $500,000 and $1,000,000 at the end of Q2.
This industry has received a significant amount of popular attention in the years 2020 and 2021, and it will continue to do so. Intel, a technology giant with a history that dates back to the 1960s, has announced an investment in cryptocurrency exchange Coinbase, in keeping with the expanding awareness of the crypto business (COIN).
A number of information, including as the date of the purchase, are still unknown, but Intel’s mandated Q2 financial statement showed the company had 3,014 COIN shares at the end of the quarter, according to a Barron’s report published on Friday. Because Intel owns more than $100 million in publicly traded investments, the company was required to declare the interest to the Securities and Exchange Commission, as reported by Barron’s.
As reported in the article, the announcement from Intel was made public on August 13.
After going public in April 2021, Coinbase became the first cryptocurrency exchange to be listed on the Nasdaq. According to TradingView statistics, Coinbase’s shares have traded in a broad range between $210 and $430 per share since the company’s initial public offering (IPO).
Shares of COIN were at $261.25 a share at the close of trading on Friday. Intel’s announced end-of-Q2 holdings are currently worth $787,407.50 at that price. COIN closed at $253.30 at the end of the second quarter, valuing Intel’s holdings in the asset at $763,446.20.
“It is possible that Intel invested in Coinbase before the shares were trading publicly,” the Barron’s article said. “Regulatory filings only require companies that are going public to disclose investors with stakes of 5% or more.”
Since 2014, Intel has been involved in a number of blockchain-related projects, including the development of an open source Hyperledger Fabric-based blockchain system.
