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Intel Injects Funds into Coinbase with New Shares Purchase

Coinbase($COIN) Share Price Falls Below Reference Amid Crypto Market Sell Off


American technology giant, Intel Corp disclosed on Friday that it now holds a stake worth nearly a million dollars in the Nasdaq-listed cryptocurrency exchange Coinbase Global Inc.  As per a regulatory filing Intel acquired 3,014 shares of Coinbase, all valued at $788,191, based on the current trading price of $261.51 per share.

Since the inception of Bitcoin in December 2008 digital assets have immensely boomed from being ‘just technological innovations’ to ‘financial instruments’ used by billions of people worldwide. Crypto adoption has significantly surged around the world over years. And, after witnessing this, market giants have also filled up their accounts with massive crypto holdings. The chipmaker Intel also seemed to follow the trend, and ultimately has entered into the digital asset marketplace through one of the leading exchanges in the ecosystem.

This is a breaking news, and will be updated shortly

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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