Disclosures Show Shopify’s CEO Bought $3M Worth of Coinbase Shares During the Past 2 Months – Bitcoin News

Public records show that Shopify’s CEO Tobias Lütke has purchased close to $3 million in Coinbase shares during the last 60 days. Lütke became a Coinbase board member last February and because he is a Coinbase associate, he’s required by law to submit his trades to the U.S. Securities and Exchange Commission (SEC).

Since August 11, Shopify’s Tobias Lütke Purchased a Significant Quantity of COIN Shares

Coinbase Global Inc., Nasdaq: COIN shares are showing signs of improvement. According to statistics, COIN’s share price has fallen 73.47% over the past twelve months. This is a decline of 184 U.S. Dollars. On Monday, October 3, 2022, COIN gained 2.11% during the past 24 hours and ​​0.93% over the last five days.

Today, COIN’s current market value has been hovering around 66.61 nominal U.S. dollars per share. Public recordsShopify CEO has indicated in the last 2 months that Tobias LütkeHas acquired a little more than $3 million in COIN shares.

Disclosures Show Shopify's CEO Bought $3M Worth of Coinbase Shares During the Past 2 Months
Year-to-date COIN statistics October 3, 2022 at 2:30 PM (ET).

Lütke acquired 3,930 shares of COIN on August 11 and he paid $97.24 per share. Five days later, Lütke purchased 4,023 shares on August 16 at $90.55 per share. From August 11, up until September 27, Lütke purchased thousands of Coinbase shares approximately six times.

According to the acquisition records, he spent an average $369K per week on COIN shares from August 11 through September 11. The billionaire founder and CEO of Shopify is extremely fascinated with technology and he’s a core team member of the Ruby on Rails project.

A year ago, Lütke and a few other Shopify executives, with the help of Celtic House Venture Partners, invested $3 million into a global print-on-demand platform called Creative Layer. Lütke and Shopify have shown interest in bitcoin (BTC) and cryptocurrency assets for quite some time.

In February 2020, Shopify joined Meta’s Libra Association, and the same year, the company started accepting crypto payments as a payment method. Lütke is the director of the five-member Coinbase Global board, which includes a16z founder Marc Andreessen, Coinbase CEO Brian Armstrong, Coinbase co-founder Fred Ehrsam, and the former CSO of Cisco Kelly Kramer.

According to disclosures, Ehrsam was the sole Coinbase insider that purchased shares in this year. The co-founder bought 1.1 million shares at approximately $76 million. Ehrsam spent just more than $68 per share last May for the COIN shares worth 1.1 million. Records show that Lütke owns approximately 65,815 shares and his cheapest purchase was his most recent for $62 per share.

In this story, tags
2 months, 60 days, Billionaire Founder, Brian Armstrong, CEO of Shopify, COIN, COIN shares, Coinbase, coinbase global, Coinbase Insiders, coinbase stock, Creative Layer, crypto payments, Fred Ehrsam, Kelly Kramer, Libra Association, Marc Andreessen, Ruby on Rails, Shopify, Shopify Founder, Tobias Lütke

How do you feel about Shopify’s CEO buying $3,000,000 worth COIN shares in the past two months? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been active since then. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 6000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.

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