Public records show that Shopify CEO Tobias Lütke has purchased nearly $3 million in Coinbase stock over the past 60 days Lütke became a Coinbase board member last February, and because he is a Coinbase associate, he is required by law to file his transactions with the U.S. Securities and Exchange Commission (SEC).
Since August 11, Shopify’s Tobias Lütke has purchased a substantial amount of COIN stock
shares of Coinbase Global Inc (Nasdaq: COIN) have seen better days as COIN has lost 73.47%, or 184 nominal value over the past 12 months according to statistics. on Monday, October 3, 2022, COIN has lost a record 2.11% over the past 24 hours and 0.93% over the past 5 days.
Today, COIN’s current market value stands at a nominal US$66.61 per share. Public documents show that in the past two months, Shopify CEOTobias Lütkehas acquired just under $3 million in COIN shares.Tobias Lütkehas COIN shares.
Lütke acquired 3,930 shares of COIN on August 11, paying $97.24 per share. Five days later, Lütke purchased 4,023 shares on August 16 for $90.55 per share; from August 11 to September 27, Lütke purchased thousands of Coinbase shares about six times.
Acquisition records show that he has paid an average of about $369K per week in COIN shares since August 11. The billionaire Shopify founder and CEO is so fascinated with technology that he is a core team member of the Ruby on Rails project.
A year ago, Lütke and several other Shopify executives invested $3 million in a global print-on-demand platform called Creative Layer with the help of Celtic House Venture Partners. Lütke and Shopify have been interested in bitcoin (BTC) and cryptocurrency assets for quite some time.
In February 2020, Shopify joined Meta’s Libra Association, and that same year the company began accepting crypto payments as a payment method. Andreessen, founder of a16z; Brian Armstrong, CEO of Coinbase; Fred Ehrsam, co-founder of Coinbase; and Kelly Kramer, former CSO of Cisco.
Ehrsam is the other Coinbase insider who bought shares this year, with the co-founder acquiring 1.1 million shares for roughly $76 million, according to the disclosure. Last May, Ehrsam paid an average of just over $68 per share for 1.1 million COIN shares. Records show that Lütke owns about 65,815 shares, with his cheapest purchase most recently at $62 per share.
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