- Tobias Lütke has purchased Coinbase stock on average once every week for $369,000.
- Between August and September, Lütke purchased thousands of shares of Coinbase.
According to public records, Tobias Lütke, CEO of e-commerce platform Shopify has purchased nearly $3 million in Coinbase shares in the last 60 days. Since the beginning of August, Lütke has bought Coinbase stock on average once every week for almost $369,000 in total, as per the reports.
On August 11, Lütke purchased 3,930 shares of COIN at $97.24. After five days, he bought 4,023 shares at $90.55. Lütke made roughly six purchases of thousands of Coinbase shares between August 11 and September 27. According to the data, he has paid an average of $369K every week since August 11 for COIN shares.
Lütke’s Acquisition of COIN Shares
Lütke received shares in batches in February and June, and he disclaimed beneficial ownership of 25,500 shares around the time he was elected to the board. According to his most recent disclosures, Lütke owns 65,815 Coinbase shares worth $4.28 million.
Lütke and a few other executives from Shopify invested $3 million in Creative Layer, a global print-on-demand platform, a year ago with the aid of Celtic House Venture Partners. Shopify joined Meta’s Libra Association in February 2020. In the same year, the company began accepting cryptocurrency payments as a payment method. Currently, Lütke is a member of Coinbase Global’s five-member board of directors.
The COIN short interest has stayed between 24.6 million and 26 million shares over the last two months, or roughly 17% of the float, showing that bets on additional significant dumps are decreasing. Additionally, the statistics show that, throughout the last 12 months, COIN has lost 73.47% of its value or 184 nominal U.S. dollars.
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