In a statement Intel Corp disclosed that it has taken a small stake in U.S. cryptocurrency exchange Coinbase Global Inc. Its stake is less a million dollars.
As of June 20, Intel held around 3,014 shares of Coinbase’s Class A common stock, said the chipmaker in a regulatory filing. Based on Friday’s Coinbase’s share price, Intel’s stake would be worth around $788,191, on a trading price of $261.51.
Intel did not immediately respond to requests for comments.
Big players have doubled down on crypto holdings including Tesla Inc.
Earlier this year in April, Coinbase, one of the largest cryptocurrency exchanges in the world, went public through a direct listing, which saw its valuation soar to $112 billion on the first day of trading.