The American multinational company “Intel” revealed the purchase of shares of “Coinbase”, which is the largest cryptocurrency exchange in America.

The technology company, Intel, which is headquartered in Santa Clara, California, currently owns just over 3,000 shares of COIN stock.

For information, Intel Corporation was founded in 1968, and it is among the largest technology companies with revenues of nearly $80 billion as of last year.

According for reports Recently, the giant “Intel” received an indirect exposure to the cryptocurrency arena by buying shares of one of the most prominent companies in the industry.

More specifically, Intel revealed its acquisition of 3,014 shares of Coinbase, which it has held since the end of June.

Read:Costly Mistake… Selling NFT for $17 Instead of 17 Ethereum (Losing $54,000)

As we noted earlier in Arab Bitcoin, the largest American platform was put up for public subscription in mid-April on the Nasdaq Stock Exchange.

At the time, COIN shares were trading at around $400 per share, and the total valuation exceeded $100 billion.

The subsequent turmoil in the market caused the share price of COIN, which closed Friday at $261, to plummet.

Therefore, this means that Intel’s total investment in Coinbase shares has reached nearly $800,000 so far.

Although Coinbase has been a publicly traded company since April, the report indicated that it was possible that Intel had invested in Coinbase even before the outright listing.

Among the other companies that have put money into Coinbase is Cathy Wood’s ArcInvest, the investment management company.

Read:After Bitcoin lost 12% of its value per week…the total value of the crypto market is struggling to stay above $1 trillion

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