It’s been revealed recently that crypto execs bought the dip of their own stocks. Here’s how much they gained below.
Crypto execs bought the dip of their own stocks
As the latest news coming from the online publication Blockworks notes, buying the dip in company stock was the right move for insiders, but those who sold the local bottom have left millions on the table.
Insiders at public crypto companies have bought millions of dollars worth of their own stocks since FTX crumpled last November. It’s important to note the fact that this is an event which sent the price of bitcoin spiraling 25%.
Coinbase director Tobias Lütke, perhaps better known as the CEO of Canadian ecommerce giant Shopify, has led the charge, according to the very same notes..
He’s been busy buying the Coinbase dip. The reporters also noted the fact that he has been spending $4.86 million on the stock over the past three months, per SEC filings.
“Lütke has snapped up nearly 110,000 Coinbase shares in that time for an average price of $44.37. COIN traded for about $60 on Friday afternoon, which means he’s up 35% on his recent haul.”
As Blockworks previously reported, Lütke has been regularly buying Coinbase stock, spending upwards of $350,000 practically every single week since August.
Bitcoin price prediction
It’s been just revealed that a popular crypto analyst stated the fact that Bitcoin (BTC) could continue its uptrend as he keeps a close eye on Litecoin (LTC) and three Ethereum-based (ETH) altcoins.
Pseudonymous trader Rekt Capital said recently that he expects BTC to continue rising as long its dominance level successfully retests a key level.
“A BTC Dominance monthly close above the range high resistance could set BTCDOM up for retest. Successful retest there and BTC Dominance would revisit the black wedge top for a decision on macro trend.”
