Shopify CEO Lûtke Bought Thousands of Coinbase Shares

Public records show that Tobias Lütke bought shares of Coinbase in the last 60 days. Le CEO of Shopify has indeed acquired nearly 3 million dollars of shares of this company. He had become a member of the board of directors of this crypto-exchange company in February. Through its title of associate of Coinbase, the law obliges it to submit its transactions to the Securities and Exchange Commission (SEC) of the United States.

Several purchase operations since August 11

Public records indicate that Tobias Lütke acquired COIN shares from Coinbase for less than $3 million. For more details, it is a buy trade of 3,930 shares for a value of $97.24 per share. This first acquisition happened on August 11, 2022. Indeed, the CEO of Shopify bought 4,023 shares five days later. For this second transaction, Lütke paid $90.55 per share. So, from September 11 to 27, he invested in thousands of Coinbase shares.

Acquisition records show that Lütke paid an average of $369,000 per week on Coinbase stock. And this, since August 11, 2022.

It should be noted that shares of Coinbase Global Inc. (COIN) have lost 73.47% in value over the past 12 months. However, this month of October seems to be more positive. Indeed, COIN stock gained 2.11% on Monday, October 3, 2022. Today, the value of this stock is hovering around $66.61.

Shopify CEO Lûtke Bought Thousands of Coinbase Shares
Shopify CEO Lûtke bought thousands of Coinbase shares – source: News Bitcoin

Lütke, Coinbase Board Director

Thanks to these stock purchases, the CEO of Shopify is strengthening his position within the CA of the crypto exchange. Lütke is indeed the director of the board of directors of Coinbase. This board is made up of five members, including Coinbase CEO Brian Armstrong.

Records also show that Ehrsam, besides Lütke, is the only other Coinbase insider to buy shares this year. The Coinbase co-founder acquired 1.1 million shares for around $76 million. For those purchases last May, Ehrsam paid an average of just over $68 per share.

According to leaked records, Lütke currently owns approximately 65,815 Coinbase (COIN:NQ) shares. His most recent purchase is also his least expensive purchase: $62 per share.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts