Intel Holds Almost $800K in Coinbase, the Crypto Exchange

The tech giant Intel has recently bought shares of Coinbase Global, a leading and publicly traded exchange for cryptos.

Intel Discloses Stake in Coinbase, the Cryptocurrency Exchange
Image by Coinbase

According to Barron's, Intel revealed that it held 3,014 shares of Coinbase (COIN) as of the end of June. The crypto exchange shares went public in April. However, the tech giant didn’t reveal owning any Coinbase stock at the end of the first quarter.

In addition, Barron's reported that the Coinbase holding is about $800,000 based on a recent trading price of $264.60. But Intel was forced to reveal the stake to the Securities and Exchange Commission (SEC) because it holds more than $100 million in publicly traded investments.

Moreover, rumors say that Intel might have invested in Coinbase before the shares were public because filings require companies to disclose investors with stakes of 5% or more if they go public.

Barron's added that Intel didn’t comment on the request for commentary on the investment.