Intel Reveals a Small Stake in Coinbase

by in Cryptocurrency News

Intel buys Coinbase stocks

Silicon Valley tech company Intel announced the purchase of 3014 Coinbase exchange stocks for around $800.000. The SEC filing shows that the deal was made before the end of June.

Related: Total Crypto Market Cap Surged Above $2 Trillion

Intel's investment in Coinbase indicates that the tech giant is positive about the future of crypto. The crypto exchange was listed on Nasdaq In April, 2021. It trades under the ticker COIN. On the first day of trading, the company's valuation reached $112 B. At the moment COIN stock trades at $261.

A major investor of Coinbase stocks is the American financial company ARK Invest founded by Cathie Wood. Data from CNN Business shows that the company owns over 5.6 million shares in Coinbase which current value is over $1.3 billion. In addition, ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF hold over 4.25 million, 1 million, and 676,736 shares respectively.

On August 10, Coinbase announced Q2, 2021 results. The revenue surpassed $2 B, from which $1.6 B net profit.