Intel Corp., a US global business founded in 1968, has announced that it has purchased shares in Coinbase, America’s largest bitcoin exchange. Intel revealed on Friday that as of the end of June, it owned 3,014 shares in Coinbase, as reported by Barrons.
Intel Corporation is one of the top technology firms in the world, with revenue approaching $80 billion last year. According to recent rumors, the giant has got access to the cryptocurrency market by purchasing stock in one of the industry’s most well-known companies. Coinbase (COIN) equities were trading for about $400 in April, with a total market capitalization of moreover $100 billion.
Even though Coinbase has been a publicly listed business since April, the reports claimed that Intel may have invested in the exchange before its initial listing. Coinbase, went public through a direct listing in April, with a valuation of $112 billion on the first day of trading.
Cathie Wood, a well-known stock picker, and Elon Musk, the CEO of Tesla Inc, have both increased their crypto holdings by allocating funds to the trading platform.
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