In Brief:
- Intel didn’t disclose owning any Coinbase stock at the end of the first quarter.
- Major players have doubled down on crypto holdings including star stock picker Cathie Wood and Tesla Inc Chief Elon Musk.
Intel on Friday disclosed a small stake in cryptocurrency exchange Coinbase Global. The chip giant holds worth less than a million dollars in U.S based cryptocurrency exchange.
It seems as though the company has recently bought 3,014 shares of the coinbase (COIN). It didn’t disclose owning any Coinbase stock at the end of the first quarter. Coinbase shares only began to trade publicly in April through a direct listing.
Intel might have 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.
Although the coinbase holding is relatively small, Intel was obligated to disclose the stake to the SEC. This is because it owns more than $100 million in publicly traded investments.
Major players have doubled down on crypto holdings including star stock picker Cathie Wood and Tesla Inc Chief Elon Musk. Cathie Wood’s Ark Investment Management also bought 750k Coinbase Shares in April.
Earlier this month, Coinbase reported a strong second quarter. Its trading volume and transaction revenue continued to build. At the recent trading price, Coinbase stock is up 5.8% from the reference price of $250 when it began trading.
