Intel Makes a Mmillion Dollar Investment in Cryptocurrency Brokerage

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Intel: This Monday (16), Intel revealed an investment of US$ 763,000 in shares of Coinbase, a North American brokerage that intends to become the “Apple of cryptocurrencies”. The amount, which corresponds to around R$4 million, was allocated to “Class A” securities, which offer lower initial rates and are aimed at investors seeking long-term profits.

Intel’s investment was observed through a document sent to the US Securities and Exchange Commission (or SEC, as it is popularly known in its English acronym). In it, you can see that the company has 3,014 shares of Coinbase, which debuted on the US stock exchange, NASDAQ, in April this year.

However, as detailed by Tom’s Hardware website, Intel did not report similar financial data in the last quarter. Thus, the company could only own less than 5% of the shares initially offered to the public (IPO) during the launch of Coinbase or made the investment in the following months.

long term profits

With a lukewarm debut, Coinbase opened its first day on the US stock exchange with its shares valued at US$430, however, it soon faced a sudden drop in price. Currently, its shares are traded for US$ 254, around R$ 1,340 in direct conversion.

On the other hand, the devaluation doesn’t seem to have hit Intel, as its initial investment of $763,000 is currently valued at $767,063, meaning a small profit of $4,063 for the company. With the growing public interest in cryptocurrencies, it is possible that the tech giant’s bet will yield more significant profits in the coming years.

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