Throughout 2021 and 2021, the crypto sector has attracted a significant amount of mainstream attention. Coming in line with the growing awareness of the crypto sector, Intel, a tech giant with a history that dates back to the 1960s, revealed an investment in the cryptocurrency exchange Coinbase (COIN).
Even though several specifics remain unknown, such as when the purchase happened, required Q2 financial disclosure from Intel indicated that the outfit is carrying 3,014 COIN shares at Q2’s conclusion, based on an August 13 article from Barron’s. The article noted:
“Intel was obligated to disclose the stake to the Securities and Exchange Commission because it owns more than $100 million in publicly traded investments.”
The small stock of COIN shares was valued between $500,000 and $1,000,000 at the time of writing. This disclosure from Intel went public on August 13, based on the article. Coinbase took its operations public in April 2021 and listed directly on the Nasdaq. Since the listing, Coinbase has seen its shares trade between $210 and $430 per share, based on TradingView data.
On Friday, COIN closed trading at $261.25 per share. At this price, Intel’s reported end of Q2 holdings is currently valued around $787,407.50. COIN closed Q2 at $253.30, which might make Intel’s holdings of the asset worth $763,446.20 at that time. The Barron’s article said:
“It is possible that Intel invested in Coinbase before the shares were trading publicly. Regulatory filings only require companies that are going public to disclose investors with stakes of 5% or more.”
Intel has had its hand in a variety of blockchain endeavors in the past, including providing a Hyperledger Fabric-based blockchain solution.