"I'm a long-term holder, you guys know that, know what I'm saying, diamond hands?" The Dogecoin millionaire told CoinStats that he sold his Tesla and Uber stocks and gathered $250,000 with the help of Robinhood's margin investment feature, subsequently investing all of it into the memecoin. Though experts warn against it, "[I'm] all invested in doge," Contessoto says. Ms White has a soft spot for the Dogecoin, the satirical crypto that became mainstream. I didn't sell any. Your email address will not be published. Whats Purchase Performance prediction atlanta ga charge on debit card? That changed somewhat when I decided to start doing collaborations, sponsorships, ads and promos for other cryptocurrencies and other projects. He no longer works at the music company in Los Angeles. Instead, he earns a fair amount by selling merchandise on his website. In April of 2021, when the value of dogecoin reached an all-time high of $0.72,. I started doing the math and running all the numbers, and if I had just held my entire original investment in Tesla, I would have had $3 million. I've been passionate about self-development and always loved to read biographies. 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. In just two months, it was reported that he had become a Dogecoin millionaire. We at cryptobullsclub.com use cookies to personalise ads and to analyse our traffic. Their extreme volatility is one reason experts say that crypto is a risky, speculative investment. According to a tweet Contessoto published, the move comes in . "Doge is my savings account," he said. In an interview, he said that many of his friends tried to talk him out of it. At current rates, Contessoto is still ahead in terms of net worth. I had this mindset, I had this conviction, which I still do, about those coins. #DiamondHands this is the way #dogecoin we will rise again, the tweet read. Of course, what further strengthened his decision was his belief in known dogecoin investor Elon Musk, who he thinks is "a genius. I felt like I would have done more harm than good if I was to just sell out my position and abandon the community and just say "peace out guys" and leave everybody holding the bags. "Sugarland Texas, if you guys hold Dogecoin, if you love Dogecoin come out and celebrate with us, we're going to have live music!". This volatility is why experts warn that Crypto . [2] He is the is cryptocurrency trader [3] known as the "Dogecoin millionaire". However, financial experts are highlyskeptical of dogecoin, as well as other cryptocurrencies. Since then, Contessoto hasrefused to sell, despite dogecoin'sups and downs. Is Letmeone dot com a scam or a legit website? Glauber Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk's tweets caused prices to soar. "I can't pass up a good bargain," Contessoto said. Los Angeles-based Glauber Contessoto became a millionaire on April 15, 2021, 69 days after investing his life savings - over $250,000 in dogecoin in February. Know this before dealing, No Aiden People are reacting to a viral TikTok video featuring a toddler, This is awful, Its In My Legs Guys Try Period Pain Simulator, We Loving Kandi And Tiny If I Get Caught Cover. he told his many online followers in a video. According to his own account, Mr Contessoto grew up poor in a family that emigrated to the United States from Brazil and was determined to make money. "To our mind, as we alleged in our complaint, it appears to be a classic pump and dump scheme.". He said that he strongly believed in Dogecoins potential and that it could help him build wealth to pass on to his family. And a lot of people did, especially for the first six to eight months. . Cincoin abre as portas para uma nova era de incluso social digital iniciando a formao da sua comunidade financeira compartilhando informao e distribu. "So, I figured, okay, this is going to be the next play," he said. He flew to the United States at the age of 6 with his family and resided in Suburban, Maryland. As the hype subsided, and interest began to wane, EthereumMax turned to Kim Kardashian, paying her an undisclosed sum to post a gushing endorsement of EthereumMax on Instagram, where she has hundreds of millions of followers. In a tweet in April, he claimed to be the "first Dogecoin millionaire of 2021." Social media plays a role in cryptocurrency investments, for both people who are looking to invest, as well as content creators who use it to guide others investment decisions. Their extreme volatility is one reason why experts warn that it's a risky, speculative investment. Glauber Contessoto's dogecoin holdings on Robinhood as of July 20 at 2:50 p.m. EST. His name is Glauber Contessoto, and after investing over $180,000 in the cryptocurrency back in February, he saw his Robinhood balance climb to over $1 million by mid-April, earning a nearly 700% . Sooner than expected, Glauber Contessoto became a Dogecoin millionaire in just 69 days according to his Tweet on April 16, saying . Tank Davis Net Worth 2023: How Much Does Tank Davis Make? Glauber Contessoto Instagram (IG) is @prothedoge. Everyone can own Dogecoin, it's cents on a dollar," Mr Contessoto recalled. "It's a joke coin. But despite the surge in value of the coin, rising more than 12,000% from January to its peak in May, Contessoto didnt cash out. * 2022 Insider Inc. and finanzen.net GmbH . BuyBlockchain.net . "Fortune favours the brave," actor Matt Damon opined. From The Press. That was worth more than $7,000 at the time I interviewed them together. Glauber Contessoto Tweet. What is Maker? "They're not all that different. Contessoto has built an online following due to his Dogecoin journey. The price of Dogecoin has dropped to $0.264 at the time of publishing, but Contessoto . He said VeVe is "full of officially licensed NFTs from some of the biggest legacy brands in the game from Disney, Marvel, Universal and even Cartoon Network. Meanwhile, however, the entire crypto market is suffering at the moment. Pero la voltil moneda meme ha cado desde entonces y l ya no es millonario Dogecoin. Today, Dogecoin was trading at $0.19, a 40% decline in value from last week. Glass Onion: Whats the inbreathiate meaning? "It felt like people were being just taken for a ride," she said. Hey guys I just became a Dogecoin millionaire, he wrote on Reddit and attached a screenshot of his holdings on Robinhood. Gen Z and millennial investors make up nearly 94% of the crypto market, with older generations sticking with more traditional investments, such as bonds and index funds. However, financial experts are highly skeptical of dogecoin, as well as other cryptocurrencies. Cryptocurrency which is a type of digital file that can be used as money, based on blockchain technology is not controlled by any centralized entity or government, and is nearly impossible to trace. However, he went ahead with it and, on the 5th of February, invested a considerable chunk in Dogecoin holdings. Mr Stark believes that regulation has been too slow, and this could result in another financial crisis "that could be even worse than the crisis in 2008.". 5.8M subscribers in the CryptoCurrency community. Is cryptocurrency financial kryptonite? After its boost, Dogecoins price kept on fluctuating, but Contessoto remained optimistic and was quite confident in holding for the long-term. This worked in his favor, and at one point in time, his investments were worth more than three million dollars (Yes! He said that young investors also appreciate that crypto feels a little bit renegade. "It's getting crazy in this crypto market, right? 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. In one month, he has made $28,000 from social media ads and promotions, which was primarily paid out in dogecoin. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were. In July, Contessoto said he bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakhs). WIN Price Prediction 2023, 2024, 2025 till. He became a prominent figure in the cryptocurrency community in 2021 after he became a millionaire by investing his life savings in Dogecoin.. Glauber Contessoto, a Dogecoin investor famous for investing his $250,000 life savings in the meme-inspired cryptocurrency in early February to become a millionaire, is doubling down on his bet In the meme-inspired cryptocurrency by investing an additional $25,000 in it. At that time it was worth around 5 cents per coin. On February 5, Glauber stated he put about $180,000 into Dogecoin at a price of roughly $0.045 cents. In a tweet in April, he claimed to be the first Dogecoin millionaire of 2021.. Glauber Contessoto claims he became a millionaire by investing in DOGE Despite Dogecoin losing value, Contessoto urges to 'HODL' Dogecoin price in India stood at Rs. The coin hit 16 cents Tuesday morning before inching up to 17 cents. Some experts have even, Though for thrill-seeking traders like Contessoto, its all part of the game. Glauber Contessoto put everything he had into Dogecoin, a highly volatile cryptocurrency that was originally invented as a joke. Kardashian's post brought in new investors and pumped up the volume of trading. Depending on what happens in the coming months, he believes the price could rise. Glauber Contessoto Reddit account is iUsedToCallDogeDodge. Glauber Contessoto became a crypto millionaire by buying Dogecoin. Contessoto himself also tells his followers not to invest more than they could afford to lose. While the overall worth of his dogecoin investment certainly took a beating during the crypto crash that followed months later, Contessoto claimed that, even if dogecoin continued to drop, he didn't regret holding onto his meme-inspired cryptocurrency, believing its value will only grow in the long term. Investorscould get burned, and in turn, should only invest what they can afford to lose. Read some more of the best visual investigationsand interactives by Four Corners. Gotta love the conviction. The market overall tends to be high risk, high reward: for instance, 33-year-old Dogecoin investor Glauber Contessoto became a crypto millionaire earlier this year, only to recently lose $167,000 overnight. Life in Loa Angeles was not easy for the Dogecoin millionaire. I feel like the war in Ukraine is a big reason. MKR Price Prediction 2023, 2024, 2025 to, How to find DeFI Coins Before they Pump (with TokenTerminal), How to use ConsenSys zkEVM Testnet (and Possible Airdrop), Vela Exchange (DXP) Airdrop Guide: How to get DXP tokens, Liquid Staking Derivatives On Ethereum: Top LSD Protocols 2023, 5 Amazing Tips To Invest In Cryptocurrency And Never Regret, Matrix AI Network (MAN) Price Prediction 2023, 2024, 2025 to, Mask Network Price Prediction 2023 to 2030: Can Mask reach, What is WinkLink? ", See Also: HOW TO BUY NON-FUNGIBLE TOKENS (NFTS), The Dogecoin millionaire said he expects NFTs to "be huge this year" and added "the ones found on VeVe will have an edge over other NFT projects given its official licenses with these exclusive collectibles and digital comic books.". In the volatile cryptocurrency market, you don't need to be on the end of a scam to lose money. I feel like honesty is the best policy, and I show my portfolio at the end of every single one of my videos, so people know exactly where I'm at. Would-be Dogecoin millionaire Glauber Contessoto is convinced that DOGE is a HODL even after the crypto token's price crashed further this week. Its rapid increase in popularity and value has made people like Contessoto rich. "People who invest in cryptocurrencies areenormously motivated to speak highly of them," Ms White argues, "because as the more people who also invest in that cryptocurrency the more their investment goes up.". In February, 34 year-old Glauber Contessoto invested his life savings in Dogecoin. She accurately predicted Januarys market correction, but then wrongly foresaw a bull market in May. As for what he's planning to do once he cashes out, he shared he's hoping to start his own record label, with the ultimate goal of ensuring that his mom never has to work again (via Newsweek). Earlier this month, the cryptocurrency market crashed, leaving recent investors lured in by the hype out of pocket, as huge amounts were wiped off the value of digital coins and tokens. Mr. Contessoto, legally named Jaysn Prolifiq, was born in Brazil. Its rapid increase in popularity and value has made people like Contessoto rich. Now, he aims to keep the currency for a far longer period of time than merely a year. Glauber Contessoto 33 Dogecoin All-in Dogecoin . He claims to have become a dogecoin millionaire on paper two months later, in April. His portfolio was worth about $831k as of Tuesday 4.40pm EST. Mr Stark is also concerned is that cryptocurrency is facilitating crime. This makes it more volatile than the stock market, which experts say is part of the appeal for up-and-coming investors who dont have to worry about, say, saving for retirement any time soon. "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor,previously toldCNBC Make It. "I don't typically refer to cryptocurrencies as investments because I see them a lot more like gambling," she told Four Corners. Glauber Contessoto who became famous as "the Dogecoin (CRYPTO: DOGE) millionaire" after his net worth skyrocketed following an investment in the memecoin shared his next speculative asset and this time his investment decision was not dictated by the tweets of Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. 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. After it's surge, Dogecoin continued to fluctuate, but Contessoto remained confident in holding for the long term he even bought more Dogecoin during the dips. But for Glauber Contessoto, uncertainty comes along with crypto, and if you dont have the stomach to handle the volatility factor, then perhaps crypto is not made for you. "Woo-wee, a bloodbath, right? He told Insider that he believes cardano will be "blockchain 3.0" and is buying the ada token. But I'm still trying to make money, I still need to make a living. In reality, crypto prices dropped. What is the Basketball Player J.R. Smiths Net Worth? Young people seem to enjoy taking what we would call contrarian positions that bet against the wisdom of Wall Street, Yermack said. He plans to buy more of the digital coin and "hodl" for the long haul. Glauber Contessoto while speaking to CNBC explained how the Reddit community and Elon Musk inspired his bold decision and how that has paid off. Contessoto was intrigued by dogecoin for a few reasons. Last month his holdings touched $2 million. Since, Contessoto has refused to sell, despite dogecoin's ups and downs. Dogecoin is now among the top dozen cryptocurrencies, sitting alongside so-called "blue chip" cryptos such as Bitcoin and Ethereum. Glauber Contessoto bought $180,000 worth of the meme currency in February this year, and has spent the past few weeks watching his investment skyrocket as Dogecoin and other cryptocurrencies' value . 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. According to the complaint, a business called EthereumMax paid celebrities to whip up hype about their "Emax" token. All Rights Reserved. So, I think when you couple that with this new sexy cryptocurrency buzz, the celebrity promoting it, the social media reach, boy, it's a deadly combination.". One of the developers behind the cryptocurrency, Ross Nicoll, even told Decrypt last month that the development team is now working on making it a serious projecthoping to rival Bitcoin as a quick, cheap, and green payment method. From Formula One to football, there is hardly a sporting code these days that's not sponsored by the cryptocurrency industry. Mr Scott describes it as a cryptocurrency version of an old-style stock market manipulationtailored to the zeitgeist. Better still, don't spend it at all - save it instead. So I still feel like I was doing the right thing by holding. had left him in 2011, when the price of bitcoin was approximately $10, in the cryptocurrency. When . Courtesy of Glauber Contessoto and Rodrigo Ramos. Contessoto, 33, invested in Dogecoin last February, according to the New York Times report. Top Solana NFT Projects to Buy in 2023 (and from, What is Maker? 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. This abandoned high school was converted into a 31-unit apartment building, warn to be especially cautious when investing in dogecoin, lacks the scarcity and technological development. I think the guy is a genius, Contessoto said of Musk in aCNBC interview. But his risks paid off. As of around 12:00 p.m. EST on Tuesday, his dogecoin holdings are worth around $931,689. However, Contessoto had recently lost $167,000 in a day when Dogecoin faced a massive drop in its value. Contessoto never doubted DOgecoin, and as a result, his funding in . Turley, who lives in Los Angeles and works in crypto strategy at a streaming app, claims hes made millions in the crypto market. Nonetheless, Contessoto's plan remains the same: "Once I hit $10 million, then I'll take out 10%. 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. He said that he took a huge risk to buy Dogecoin by using all his savings and sales from his shares of Tesla and Uber and that he invested on margin from Robinhood. 18.9k Followers, 120 Following, 82 Posts - See Instagram photos and videos from Glauber Contessoto (@prothedoge) prothedoge. $3 million). Glauber Contessoto, 33, became a 'dogecoin millionaire' after investing his life savings, or $250,000, into the cryptocurrency. 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. uses and the stocks to play it. marenaltman/Instagram, Courtesy of Cooper Turley, 2023 NYP Holdings, Inc. All Rights Reserved, FTXs NishadSingh pleads guilty to fraud, conspiracy charges, Alexis Ohanian used $50M crypto windfall to buy Serena Williams 17-carat engagement ring, SBFssprawling alleged campaign finance scheme detailed in new indictment, Sam Bankman-Fried reportedly caught napping during flight to NYC court hearing, Oh No, Oh No, Oh No No No Song Tiktok Remix Tik tok. 18.9K followers. The cryptocurrency, along with many others, has dived in value in recent weeks. 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). The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. But, "if it drops below 20 cents next week, I'll buy the dip again," Contessoto says. Please learn about the complete disclosure here: Disclosure. And somewarn to be especially cautious when investing in dogecoin in particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. An 85-year Harvard study found the No. Altman charges members $7.77 per month and offers courses ranging in price anywhere from $49 to $1,499. "It's something at the SEC we used to call the Greater Fool Theory that you believe there's a greater fool out there who will pay more, whatever the cryptocurrency might be.". Facilitating crime at current rates, Contessoto is still ahead in terms of Net worth in popularity and value made... Alleged in our complaint, a 40 % decline in value from last.! I decided to start doing collaborations, sponsorships, ads and promotions, was. Y l ya no es millonario Dogecoin have even, though for thrill-seeking traders like Contessoto, named. Worth $ 5,300 ( roughly Rs 3.94 lakhs ) war in Ukraine is a genius, Contessoto is ahead! 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