Coinbase continues to rise.
When I first started investing in crypto the process was extremely tedious and stressful. The number one reason for this was the terrible user interfaces many crypto platforms, exchanges and wallets used—and still use by the way.
Coinbase solves that issue for many new users, and while I personally am not a fan of custodial wallets, and recommend cold storage wallets for veteran investors, services like Coinbase are excellent for the beginner.
It isn’t a wonder then that other tech giants have taken notice and want to invest in Coinbase, tech giants like Intel.
The chip manufacturer reportedly holds a small stake in Coinbase, and my money is on Intel buying up more of Coinbase as time goes on.
Intel has had an industry franchise in computer chips for nearly 30 years, and its nearest competitor AMD lags far behind it in terms of R&D spending, sales, revenues, and performance.
Imagine if a company like Intel buys Coinbase completely……they might create that same exact sustainable competitive advantage in the market for crypto platforms.
Take a look:
— CoinDesk (@CoinDesk) August 13, 2021
Intel owned 3,014 shares of $COIN as of the end of June, those shares are currently worth $793.9K
— Stock Market News (@StockMKTNewz) August 13, 2021
Intel’s stake in Coinbase was reported by Coin Telegraph:
Although a number of specifics remain unknown such as when the purchase occurred, required Q2 financial disclosure from Intel showed the outfit carrying 3,014 COIN shares at Q2’s conclusion.
Coinbase took its operation public in April 2021, listing directly on the Nasdaq. Since the listing, Coinbase has seen its shares trading between an approximate range of $210 and $430 per share, based on TradingView data.
Semiconductor chip manufacturer @intel could be jumping into the crypto space.The company has purchased around $800,000 in exchange Coinbase.
THIS IS MASSIVE STEP.#Bitcoin is ♥️♥️♥️💯💥@Kamlesh16400263 @pushpendrakum#blockchaintechnology is the future..https://t.co/MnAOxiSKdI
— Chandan Rai (@Chandan80264040) August 14, 2021
Crypto Potato had more on the price of Coinbase shares:
The subsequent turbulence in the market caused a price dip for COIN, which closed on Friday at $261.
Consequently, this means that Intel’s total allocation is worth approximately $800,000 as of now.
Although Coinbase is a publicly-traded company since April, the report suggested that it’s possible Intel had invested in the exchange even before the direct listing.
Other companies that have allocated funds in the trading platform include Cathie Wood’s investment management firm ARK Invest.
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