Computer chip manufacturer Intel Corp. has revealed it holds a stake in the leading U.S. cryptocurrency exchange, Coinbase. The tech giant purchased the shares worth almost $800,000 after the digital asset trading platform went public earlier this year.
Intel Acquires Shares of Crypto Exchange Coinbase
Intel has disclosed it owns Coinbase stock in a quarterly report submitted to the U.S. Securities and Exchanges Commission (SEC) on Friday. The Santa Clara, California-based technology company bought the stake following the listing of the cryptocurrency exchange this spring.
According to the filed Form 13F, Intel had 3,014 shares of the platform’s operator, Coinbase Global Inc., as of June 30, valued at over $760,000 at the time. On that date, Coinbase’s stock closed at $253.30 per share, Market Watch details.
The price at the end of June was 22.8% lower than the $328.28 closing rate registered on the first day of trading of the COIN shares, April 14. The stocks have since recovered some of the lost value, recently exceeding $280.
On the last day before the weekend, Coinbase’s shares rose by 1.85% with a closing price of $261.25, Fox Business noted in its report on the regulatory filing. The shares of Intel remained almost unchanged on Friday, at around $53.50.