Intel has invested worth of about 3,014 shares of Coinbase’s Class A common stock as of June 30, Intel said in a regulatory filing.
The Coinbase shares would be worth around $788,191, based on trading price of $261.51 at 15:01 pm ET on Friday. Coinbase is one of the largest cryptocurrency exchanges in the world, it went public through a direct listing in April, which saw its valuation rise to as high as $112 billion on the first day of trading.
It comes amid a surge in the value of cryptocurrencies which has lured a clutch of mainstream, top-tier firms that have dived into the space.
Coinbase’s stock opened at $381 per share, up 52.4% from a reference price of $250 per share set on Tuesday though only 10.9% above the $343.58 volume-weighted average price Coinbase’s shares were trading at privately in the first quarter of 2021.
