A lot of people don't realize this, but the first time I ever invested in any cryptocurrency was also in February 2021, so I had been in the space for two months and became a millionaire. The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. After learning about the meme cryptocurrency on Reddit, Contessoto says he invested over $180,000 in dogecoin on Feb. 5, when it was priced at about 4.5 cents. Musk has always been there to boost the currency's reputation and talk about it on Twitter, and this caused Contessoto to look at the currency and invest more than $180,000 into it. However, the crypto market is now in the doldrums and has been so after Bitcoin, "the main cryptocurrency" to which all . He put in all of his money (life savings) and even credit card debt to invest a quarter of a million dollars in Dogecoin (digital currency). Young people seem to enjoy taking what we would call contrarian positions that bet against the wisdom of Wall Street, Yermack said. Glauber Contessoto, pictured, invested his life savings in Dogecoin in 2021. Glauber Contessoto puso todo su dinero en Dogecoin. This worked in his favor, and at one point in time, his investments were worth more than three million dollars (Yes! As reported by CNBC Make It, Contessoto said that his holdings are down over $167,000 yesterday itself, and his portfolio was worth $831,538.88 as of Tuesday at 2:10 a.m. IST. HONEST review, Cup Loan Program Application Legit or Scam? Amid the rout, Mr Contessoto was counting the cost. Glauber Contessoto 33 Dogecoin All-in Dogecoin . From The Press. While Dogecoin, Turley said, might look idiotic on paper as a meme stock stocks that are bolstered by social media and Reddit he said that crypto ultimately boils down to sharing investments with a passionate community. That's opened a new line of business for New York based lawyer David Scott, who heads a global law firm that specialises in securities fraud and consumer protection. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. Contessoto investeerde naar eigen . She also offers a CryptoCharted newsletter for $20 per month. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were. People are just on the side lines asking: "When do we jump in?". That's when he announced that he had become aDogecoin millionaire. Glauber Contessoto has now turned his attention, Cardano. . A dollar invested in Dogecoin on Jan. 1 would be worth $203 today much more than a comparable investment in . Dogecoin remains a very lucrative trade. #DiamondHands this is the way #dogecoin we will rise again, the tweet read. On top of all that, he also went on to liquidate the rest of his owned stock shares as means to go all-out on dogecoin. Contessoto didn't exactly start out as the dogecoin millionaire he's known as today. His holdings went up in value and touched $2 million. Some experts have even said that we are now entering a bear market. In the Philippines, it's becoming more common, Thirty-four balls and just 29 minutes: Here's how Australia's latest Test batting collapse unfolded, Motorway upgrades may have caused extra flooding for some Gold Coast homes, report says. Read some more of the best visual investigationsand interactives by Four Corners. So I still feel like I was doing the right thing by holding. Since becoming a "dogecoin millionaire" on April 15, Glauber Contessoto has continued to hold rather than sell despite the coin's ups and downs, he tells CNBC Make It. Their extreme volatility is one reason why experts warn that it's a risky, speculative investment. In April of 2021, when the value of dogecoin reached an all-time high of $0.72, Contessoto claimed that his initial $180,000 dogecoin portfolio had reached a worth of about $2 million. Tank Davis Net Worth 2023: How Much Does Tank Davis Make? "That's about six months salary at my old job," Contessoto says. Boston software engineer Molly White has become one of the leading voices of criticism of cryptocurrency. Yermack believes the pandemic only accelerated this trend. A Division of NBC Universal. I went on CNBC, I went to The New York Times, and I said that I wasn't going to sell a single coin. In the end, the dogecoin millionaire aims to take only 10% off his portfolio once it reaches his targeted $10 million goal, leaving the rest to continue growing. Last month his holdings touched $2 million. An unexpected windfall will cheer you up no end between now and the weekend but watch out for those who want to help you spend it or you could end up with precious little left for yourself. In just two months, it was reported that he had become a Dogecoin millionaire. Two months later, in April, he became a. uses and the stocks to play it. We send memes to each other all the time, it's just the way that we communicate, and Generation Z.". To keep up with his growing "dogecoin millionaire" brand online, Contessoto also quit his day job at a music company in Los Angeles in June. He rode that investment to millionaire status and a profile in the New York Times in May. That kind of advertising disturbs John Reed Stark, a lawyer in Washington DC who has spent most of his career at the intersection of law and technology. The way that their parents built money in a tried and true way, maybe through investment index funds or savings accounts with a low percent APY, is a joke to live off of in a way, Altman said. Hoje, tem US$ 2 milhes. stocks, Salesforce results give CEO Benioff breathing room', Fast Money trader Steve Grasso said, Is ChatGPT the tip of the iceberg? He has 11k followers at the time of writing this report. Even if that sounds like Gen Z nonsense to older investors, she said her audience is looking for a change of pace. But on Monday . Mr Scott describes it as a cryptocurrency version of an old-style stock market manipulationtailored to the zeitgeist. At. On the website r/dogecoin, the trader even posted a screenshot of his Robinhood account with the caption "I just became a Dogecoin millionaire.". Contessoto, who works at a Los Angeles hip-hop media company, according to the NYT, said in his tweet that he will continue to HODL (a purposeful misspelling of hold). "So, they literally paid me in dogecoin. "I'm a long-term holder, you guys know that, know what I'm saying, diamond hands?" They are expected to actually play a game, and the odds should be about what they say they are. $3 million). Everything is just bad right now. In the following weeks, it went to $2 million, then close to $3 million. Contessoto himself also tells his followers not to invest more than they could afford to lose. At the time, he considered himself a "technology evangelist" but he now proselytises against cryptocurrency. His portfolio was worth about $831k as of Tuesday 4.40pm EST. Larry David, co-creator of the sitcom Seinfeld and star of Curb Your Enthusiasm, portrayed a hapless doubter while the ad warned "Don't be like Larry". He is known on YouTube as The Dogecoin Millionaire and he is known on Instagram as @ProTheDoge. Hey guys I just became a Dogecoin millionaire, he wrote on Reddit and attached a screenshot of his holdings on Robinhood. Then he decided to sell his shares and go all in, as Musk head of Tesla and Space X, the world's richest man got behind the cryptocurrency. "Day afterday after day, it was like, one scam, one day, two hacks the next day.". And somewarn to be especially cautious when investing in dogecoin in particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. IF I CAN HODL YOU CAN HODL!!! He said that he strongly believed in Dogecoins potential and that it could help him build wealth to pass on to his family. Courtesy of Glauber Contessoto and Rodrigo Ramos. 14.27 on July 22 morning Join the tribe of 1000+ members now. He has booked his investments in Dogecoin holdings till 2023 and wishes to make at least ten million dollars by the time he turns 35. MKR Price Prediction 2023, What Is Staking In Cryptocurrency? The Dogecoin Millionaire also known has SlumDOGE Millionaire on Twitter has been able to amass over 31k followers on the online microblogging platform. Contessoto is typical of the emerging demographic of crypto investors. Courtesy of Glauber Contessoto and Rodrigo Ramos. In addition, Contessoto shared in recent a YouTube video that he's selling his own beard cream lineup called the "Diamond Hand." Is Letmeone dot com a scam or a legit website? The biggest blessing from all this is the online community I've built. Maria DiGeronimo Net Worth, Biography, Fiance, Children, Age, Eric Roberts Net Worth, Movies Wife, Wiki. Glauber Contessoto, 34, lives in Las Vegas, Nevada. Now she believes she's being penalised, Marie is accused of terrible crimes against her own kids. Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. The whole goal for Dogecoin has always been mass adoption; to be, eventually, legal tender to be used in day-to-day payments, transactions and buying and selling things. Do Not Sell My Personal Data/Privacy Policy. About|Contact Us|Terms & Conditions| Privacy Policy. And Contessoto, who has tens of thousands of followers on Instagram and Twitter, today tweeted that his Doge investment stood at $764k. Glauber Contessoto, que mora nos EUA e f de hip hop . Contessoto hopes that his portfolio will be worth a whopping $10 million one day, and then he will convert a tenth of that into fiat. Contessoto will earn a total of $25,000 for an upcoming partnership between his YouTube channel and blockchain project Acria Network, he tells CNBC Make It. Ms White is concerned about the way cryptocurrency is being marketed to people who are neither tech savvy nor sophisticated investors able to understand the risks they're exposed to. It's like Jay-Z said: "First they love me, then they hate me, then they love me again.". In a video he posted in mid-May, Mr Contessoto revealed the value of his crypto portfolio had fallen nearly $1.8 million in a year but he had still made $281,000 on his investment. In his YouTube video, he stated that Elon Musk held nearly a third of all Dogecoins in circulation. As of around 12:00 p.m. EST on Tuesday, his dogecoin holdings are worth around $931,689. The 'SlumDoge Millionaire' made it big with crypto. `` When do we jump in? `` what is Staking in cryptocurrency, the tweet.. Could help him build wealth to pass on to his family on Robinhood out as the Dogecoin,. And he is known on YouTube as the Dogecoin millionaire he 's known as.! Long-Term holder, you guys know that, know what I 'm saying, diamond?. The wisdom of Wall Street, Yermack said Mr Contessoto was counting the cost is Letmeone dot a... 2023: How much Does tank Davis make in his YouTube video, he considered himself a `` evangelist. Emerging demographic of crypto investors the 'SlumDoge millionaire ' made it big with crypto became Dogecoin... What they say they are one point in time, he became a. uses and the stocks play! 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