• Mon. Apr 22nd, 2024

A Major Tech Giant Reportedly Holds Stocks for Coinbase



Aug 15, 2021

Whether it is the year 2020 or 2021, the cryptocurrency industry has gained a lot of adoption and growth in both years. However, as compared to the year 2020, the year 2021 has proven to be extremely beneficial for the entire cryptocurrency industry.

In the year 2021, the cryptocurrency industry has managed to attract many mainstream institutions. With time, more and more mainstream institutions continue gathering under the cryptocurrency industry’s flag.

Prior to the growth in the cryptocurrency industry, the majority of the mainstream institutions were reluctant about adopting cryptocurrencies. They found it extremely risky to make any investments in the cryptocurrency industry. Before investing in the cryptocurrency industry, they wanted to know if the sector had any potential and longevity.

However, the pandemic helped the entire world realize the importance and potential of the cryptocurrency industry. This is the reason why so many mainstream institutions adopting and investing in cryptocurrencies.

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Among the entire mainstream industry, it is the tech sector that has demonstrated a tremendous adoption rate for cryptocurrencies. This is the reason why every single day, a new firm is making it to the headlines, announcing that it has invested in cryptocurrencies.

This time, the surprise comes from Intel, which is and has been one of the top tech giants in the entire world. Intel has been around since 1960, and it has been around in the list of top tech companies since then. The company has recently gone ahead admitting that it has also invested in the cryptocurrency industry, but the investment is not directly in cryptocurrencies.

Intel has recently admitted that it has invested in the stocks for one of the largest cryptocurrency exchanges known as Coinbase (COIN).

For now, not much has been shared by Intel around its investment or the deal that the tech giant has formed with Coinbase. For now, the only thing that the analysts and data analyzing firms have confirmed is that Intel made an investment in COIN somewhere in the second quarter of 2021.

This is because Coinbase went public in mid-April, which takes the first quarter of 2021 out of the equation. Another reason is that Intel revealed its investment in COIN shares in the earnings report it shared for the second quarter of 2021.

For now, it is not confirmed in which month Intel purchased the shares for the second quarter of 2021. In its financial disclosure for the second quarter of 2021, Intel revealed that by the end of Q2 2021, it had accumulated a total of 3,014 shares for Coinbase.

This is going to help Coinbase gain some price surge in terms of its stock prices. Ever since Coinbase launched its stocks in the market in mid-April, it has experienced a downtrend towards its stock prices. Major institutional firm’s involvement and investment in Coinbase shares would definitely help the company regain some price on its shares.


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