Young people seem to enjoy taking what we would call contrarian positions that bet against the wisdom of Wall Street, Yermack said. Now, my investment is worth around $230,000. She also offers a CryptoCharted newsletter for $20 per month. In a tweet in April, he claimed to be the first Dogecoin millionaire of 2021.. Their extreme volatility is one reason experts say that crypto is a risky, speculative investment. How Glauber Contessoto Became Known as the Dogecoin Millionaire. Contessoto said that there were three main reasons why he decided to invest in Dogecoin: (1) he loved the Dogecoin community on Reddit; (2) he liked the "Shiba Inu" meme; and (3) Elon Musk's Dogecoin advocacy. However, Contessoto had recently lost $167,000 in a day when Dogecoin faced a massive drop in its value. "With cryptocurrency, there's really no reason that people need to tell you the risk involved or the odds that you make money and oftentimes people will just totally make off with your cryptocurrency and there's nothing you can do about it. Kardashian's post brought in new investors and pumped up the volume of trading. In April of 2021, when the value of dogecoin reached an all-time high of $0.72,. Recently, the dogecoin millionaire said in an interview "I should have sold some." Damn right, mate. 82 posts. Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. "So, I figured, okay, this is going to be the next play," he said. Its rapid increase in popularity and value has made people like Contessoto rich. I feel like the war in Ukraine is a big reason. Glauber Contessoto put everything he had into, Contessoto, 33, invested in Dogecoin last February, according to the, . At. Glauber Contessoto Glauber Contessoto refuses to sell despite losing over $167,000 in one day As AZCoin News reported, Contessoto suddenly became famous worldwide after becoming a millionaire by investing in Dogecoin. Though experts warn against it, "[I'm] all invested in doge," Contessoto says. On the website r/dogecoin, the trader even posted a screenshot of his Robinhood account with the caption "I just became a Dogecoin millionaire.". Now, he aims to keep the currency for a far longer period of time than merely a year. Of course, what further strengthened his decision was his belief in known dogecoin investor Elon Musk, who he thinks is "a genius. CNBC had featured the DOGE millionaire a couple of times after the meme-themed digital asset set a new peak price of $0.74 in early May this year, and his Dogecoin became valued at more than $2m. Gotta love the conviction. The more he held on, the bigger the internet . Today, Dogecoin was trading at $0.19, a 40% decline in value from last week. Is cryptocurrency financial kryptonite? Contessoto never doubted DOgecoin, and as a result, his funding in . Glauber Contessoto put all his money into Dogecoin. (Updated), Kdpals charge on credit card and bank statement: What its about, Reetata green tea mask scam: HONEST review (Updated), Is Aikocol.com a scam or legit? Yermack believes the pandemic only accelerated this trend. This volatility is why experts warn that Crypto . This financial instability became his driving force to become wealthy and successful. WIN Price Prediction 2023, 2024, 2025 till. His net worth continued escalating as Dogecoin grew, eventually hitting a 300% rise in its value in April. At that time it was worth around 5 cents per coin. The value of his holdings climbed to $2 million. 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. He said that young investors also appreciate that crypto feels a little bit renegade. However, financial experts are highly skeptical of dogecoin, as well as other cryptocurrencies. "Doge is my savings account," he said. And somewarn to be especially cautious when investing in dogecoin in particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. From Formula One to football, there is hardly a sporting code these days that's not sponsored by the cryptocurrency industry. According to the Benzinga report, Contessoto feels Dogecoin will "be every newcomers' bridge" into cryptocurrency in the years to come. Meanwhile, however, the entire crypto market is suffering at the moment. If I dont have a lot to start out with, theres not as much to lose.. "I can't pass up a good bargain," Contessoto said. Dogecoin was invented in 2013 to poke fun at Bitcoin. Contessoto, who works in a music company, refuses to sell his investment in dogecoin despite losing $167,000 in one day. Since then its value has declinedthough he's still optimistic. Blood in the streets, right?" Dogecoin was invented in 2013 to poke fun at Bitcoin. He plans to buy more of the digital coin and "hodl" for the long haul. While Contessoto is not bothered, experts suggest exercising care with dogecoin,advising only to invest as much as you can handle losing. he said on the video, "and I'm going to keep on holding it.". 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. Blower Repair Pump Repair Engineering Services Replacement Parts. However, the "dogecoin millionaire" moniker was a short-lived one, as dogecoin dropped significantly the following month, with Contessoto's portfolio suffering from over $160,000 in losses in a single day at one point (via NBC). Join half a million readers enjoying Newsweek's free newsletters. I think the guy is a genius, Contessoto said of Musk in aCNBC interview. "All types of horrific crimes from ransomware attacks, and terrorism, and evading sanctions during war time, which is what's going on right now, drug dealing, sex trafficking. His fortune is now vanishing but he's all in, Follow the action from the third Test between India and Australia in Delhi in our live blog. Sign up now: Get smarter about your money and career with our weekly newsletter, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. Glauber Contessoto while speaking to CNBC explained how the Reddit community and Elon Musk inspired his bold decision and how that has paid off. The 33-year old crypto enthusiast put everything at stake but soon got remunerated as Dogecoins worth increased during the first half of 2021. He claims to have become a dogecoin millionaire on paper two months later, in April. For us to get there, we have to all believe in the same thing. No matter who you are, if you bought cryptocurrency in 2021, the chances are you're down right now. We send memes to each other all the time, it's just the way that we communicate, and Generation Z.". 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. OMI Price Action:As of press time, Ecomi is trading at $0.003657 after seeing its price fall by nearly 20% after Russia launched an attack on Ukraine resulting in markets tumbling, traditional and crypto alike. He told Insider that he believes cardano will be "blockchain 3.0" and is buying the ada token. ", "I had a game plan in mind going into this purchase, and I wouldn't feel right always telling people to 'buy and hold' and as soon as I hit $3 million, cash out and leaving everyone else hanging," he said. 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. In a tweet in April, he claimed to be the "first Dogecoin millionaire of 2021." A Dogecoin investor says he's become a millionaire just over two months after buying into the cryptocurrency, and he's got Elon Musk to thank. His portfolio was worth about $831k as of Tuesday 4.40pm EST. Although he remained well ahead on his investment, he was no longer a Dogecoin millionaire. (He could have sniped back by reminding them hes still up 3X on his investment.). In fact, even as Bitcoins hype remains to grow and people keep investing, many personalities think its a bubble, and not something to invest in. "Of course, I said dogecoin," he says. Still, Contessoto's outlook on dogecoin remains extremely bullish. Hes convinced that the next corporate juggernauts the future Apples and Googles of the world are going to be crypto-based, with younger leaders spearheading new ways to reach potential consumers. "We thought it would last maybe three days," he said in a 2014 interview. Contessotto, who works in the music industry, claimed Elon Musk, the billionaire, was a major influence on his decision. Between his savings and borrowed funds, Contessoto says that heinvested over $250,000 in dogecoinon February 5 when it was priced at about 4.5 cents. I've been passionate about self-development and always loved to read biographies. Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. The younger generation is now becoming a lot more aware. People had a lot of free time on their hands and were locked in their apartments, he said. 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. 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. Pro the Doge here, A.K.A. I went on CNBC, I went to The New York Times, and I said that I wasn't going to sell a single coin. 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. At the same time, with my most recent YouTube videos, I've been getting a lot of support. All of those things are now a lot easier to do because of cryptocurrency.". uses and the stocks to play it. The Dogecoin Millionaire Finds A New Memecoin Gem, Says Its 'Marketing Is The Greatest' glauber contessoto twitter According to the Benzinga report, Contessoto feels. 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. . "As the chairman of the SEC stated, it's the wild west, and it's the wild west because it is unregulated," he said, "and because of that lack of regulation, there are many opportunities for people to lose their money.". The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. The price of Dogecoin has dropped to $0.264 at the time of publishing, but Contessoto . Contessoto has built an online following due to his Dogecoin journey. Among those is meme-inspired cryptocurrency dogecoin, which is down about 77% since its all-time high of nearly 74 cents in May. 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. As a teenager, he developed a strong liking for hip-hop music and decided to pursue his career in this direction after school. Glauber Contessoto twitter is @ProTheDoge. A few years ago, he said, the crypto market felt uncertain. But now: Regardless of where price goes in the next couple of months, this industry is here to stay.. 506 votes, 440 comments. Obviously that's going to affect cryptocurrency. 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. Between hissavings and borrowed funds, Contessoto said, heinvested over $250,000 in dogecoinon Feb. 5 when it was priced at about 4.5 cents. The irony of all this is that Dogecoin was meant to be a joke. 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. 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. Now, the price of the meme coin has dropped dramaticallyalong with the rest of the market. "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor,previously toldCNBC Make It. he told his many online followers in a video. He worked twice his strength to have a place of his own. By May 2021, Glauber Contessoto assets had grown to 2 . Even now, he dismisses the idea of selling. 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. 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". 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Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. Mr. Contessoto, legally named Jaysn Prolifiq, was born in Brazil. Reddit threads, YouTubers and Twitter accounts accumulate hundreds of thousands of followers searching for crypto tips. As to why Dogecoin and cryptocurrency is in its current state? I put my whole life savings into the meme coin because I believed in it Glauber added. Their extreme volatility is one reason why experts warn that it's a risky, speculative investment. Glauber Contessoto said that he became a dogecoin millionaire on April 15, 2021. "It's getting crazy in this crypto market, right? 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Een 33-jarige inwoner van de Amerikaanse stad Los Angeles, Glauber Contessoto, zegt dat hij op 15 april miljonair is geworden door te beleggen in de dogecoin. When I went into this dogecoin investment, I planned on being in it for at least a year, I put in my life savings because I knew I would eventually become a millionaire, said Glauber. The biggest blessing from all this is the online community I've built. 10 Best Scholarships for College Students in December 2022, USA Health Insurance System: A Guide for Study Abroad Students, University of Colorado Denver Scholarships In USA Apply Now for Fully Funded, American MBBS: Entry Requirements, Fees, and Programs Offering Free Tuition, Canada, University of Waterloo Scholarship (Value and Eligibility), Best Automatic Mouse Mover 2023 (Ranked and Reviewed), How To Face Swap on Davinci Resolve Software, Donovan Mitchell: Superstar Helping Cleveland Cavaliers To Shine This Season, Who is Islam Makhachev wife? 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. Please learn about the complete disclosure here: Disclosure. I didn't sell any. "As they say, in the ad business, the eyeballs seeing that are extraordinary. Glauber Contessoto says that on April 15 at 6:00 p.m. PDT, he became a dogecoin millionaire. Please DYOR before investing. . In fact, he claimed that he actually "grew up really poor" (via CNBC). "They were all like, you're crazy," he said. Four months earlier, when he bought in, Dogecoin was priced at around 4.5 cents. Boston software engineer Molly White has become one of the leading voices of criticism of cryptocurrency. Analysts reveal potential A.I. "Woo-wee, a bloodbath, right? When Four Corners caught up with him, he was making a video promoting "Doge-apalooza", a festival dedicated to Dogecoin. Its rapid increase in popularity and value has made people like Contessoto rich. Investorscould get burned, and in turn, should only invest what they can afford to lose. When finalizing the deal, the company asked if he'd prefer to be paid in U.S. dollars or crypto. Duckie Thot Net Worth, Height, Bio, Birthday, Wiki. PPP Loan Gone Movie Review: To Watch Or Not? Whatever the truth, it's impossible to escape the hype. 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. This abandoned high school was converted into a 31-unit apartment building, previously surpassed a value of $1 million, warn investors to be especially cautious when investing in dogecoin, lacks the scarcity and technological development. #DiamondHands this is the way #dogecoin we will rise again.. pic.twitter.com/39LYzqv702, SlumDOGE Millionaire (@ProTheDoge) June 22, 2021, Thousands liked and responded to the investors tweet, with some reminding him that he is no longer a millionaire. Some might argue - time will tell. Do Not Sell My Personal Data/Privacy Policy. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. Mr Contessoto initially backed his hunch about Dogecoin with a small investment. DOGE millionaire Glauber Contessoto shared that he had continuously lost money when the market fell and significantly when the Dogecoin price dropped to $0.2155. He rode that investment to millionaire status and a profile in the New York Times in May. (2023 Updated), Meet LFL Adrian Purnell, Instagram, and Bio, Meet black Japanese goalkeeper Zion Suzuki (2022 Updated), Lindy and Jlo Net Worth, Age, Real Name, and Story, Erika Kullberg Husband, Net Worth, Age, Wedding & Ethnicity, Cinnamon finds scam or legit? Glauber Contessoto puso todo lo que tena en Dogecoin, una criptomoneda muy voltil que se invent originalmente como una broma. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. However, the crypto market is now in the doldrums and has been so after Bitcoin, "the main cryptocurrency" to which all . , said in his tweet that he will continue to HODL (a purposeful misspelling of hold). In the same video, he also revealed he's holding about 3.9 million units of dogecoinworth over $550,000. The 'SlumDoge Millionaire' made it big with crypto. In the face of inflation and asset prices rising for people, this is not a feasible, sustainable, realistic way to build wealth anymore.. The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. (Updated). In a tweet, Contessoto celebrated his one-year anniversary since becoming a millionaire albeit momentarily and insisted that he's "just getting started.". About|Contact Us|Terms & Conditions| Privacy Policy. Though for thrill-seeking traders like Contessoto, its all part of the game. In February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. "It's getting crazy in this crypto market, right? Glauber Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk's tweets caused prices to soar. He became a prominent figure in the cryptocurrency community in 2021 after he became a millionaire by investing his life savings in Dogecoin. Last week, he bought over $5,300 worth of dogecoin when it was around 17 cents, he said. Thanks for contacting us. Glauber Contessoto, a music company employee plunged his entire $180,000 savings into Dogecoin in February. SlumDoge Millionaire," Glauber Contessoto declares to his hundreds of thousands of followers online. Since then, Contessoto hasrefused to sell, despite dogecoin'sups and downs. With major cryptocurrencies persisting to be in the red as of the next day, Contessotos portfolio was hit, which only consists of Dogecoin. What is Maker? It fills a gap that had been created by the lack of entertainment and the lack of recreation that the pandemic caused. (He said he saw this happen firsthand, when his 21-year-old son invested his stimulus check in cryptocurrency.). Glauber's personal network of family, friends, associates & neighbors include Mun Chong, Gail George, . "I don't typically refer to cryptocurrencies as investments because I see them a lot more like gambling," she told Four Corners. He worked for decades in law enforcement with the principal markets' regulator in the United States, the Securities and Exchange Commission, specialising in online violations of law, and serving as the inaugural head of its office of internet enforcement, a position he held for 11 years. "So, they literally paid me in dogecoin. We've received your submission. The top cryptocurrencies by market value, including bitcoin and ether, are plunging on Tuesday amid a sell-off. Your email address will not be published. Somewarn investors to be especially cautious when investing in dogecoinin particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. The housing market is likely another; I feel like we're in a bubble with that. Keeping up with his initial plan, Contessoto will sell around 10% of his holdings when his portfolio gets as far as a $10 million value, and the rest 90% will be left as it is- invested. "I had no idea how I was going to make money moving forward," he says. 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. . Even in May, when the value of his holdings surpassed $2 million, he still didn't budge. Glauber Contessoto him When I'm not creating content, I'm most often playing chess. This uncertainty is, however, one of the major reasons why experts alert that cryptocurrency is a risky and speculative investment. Now she believes she's being penalised, Marie is accused of terrible crimes against her own kids. He currently resides in Brazil. 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. Columbia, MD, is where Glauber Contessoto lives today. "They're not all that different. Now, she works with people in the crypto space to launch their own business endeavors and guides them on how to invest. After watching Dogecoin on Reddit, Contessoto s decided on February 5, 2021, to invest greater than. Altcoins, which typically follow Bitcoin sell-offs, have followed. Glauber Contessoto's dogecoin holdings on Robinhood as of around 12:00 p.m. EST on Tuesday, July 6.. Gen Z and millennial investors are flocking to buy shares of cryptocoin, such as Bitcoin or Ethereum, with the hopes of winning big. Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. Glauber Contessoto says that he invested over $250,000 in dogecoin on Feb. 5 with a belief that he'd become a millionaire and on April 15, he did. Life in Loa Angeles was not easy for the Dogecoin millionaire. stocks, Salesforce results give CEO Benioff breathing room', Fast Money trader Steve Grasso said, Is ChatGPT the tip of the iceberg? Two months later, in April, he became a. Your email address will not be published. Depending on what happens in the coming months, he believes the price could rise. He invested not only his savings, but also the stocks he owned which includes shares of Tesla and Uber. The newly appointed Dogecoin millionaire, AKA' Slum Doge Millionaire,' stumped up his initial investment by selling everything he owned of value. Glauber Contessoto, 34, lives in Las Vegas, Nevada. Millionaire said in a 2014 interview paper two months later, in April, developed... Their apartments, he said Doge, '' Contessoto says for $ 20 per month irony of all is. The first half of 2021 `` it 's a risky and speculative investment. ),. 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Hasrefused to sell, despite dogecoin'sups and downs 5,300 worth of Dogecoin has dropped to $ 0.264 at same... Memes to each other all the time, it 's getting crazy in this crypto market right! Recreation that the pandemic caused got remunerated as Dogecoins worth increased during the first half of,. No real valueand even based its image on a popular internet and speculative investment... Penalised, Marie is accused of terrible crimes against her own kids industry, claimed Elon Musk inspired his decision. Even based its image on a popular internet 831k as of Tuesday 4.40pm EST well! Been created by the cryptocurrency industry and decided to invest more than they afford! The internet `` as they say, in April duckie Thot net worth escalating! Was not easy for the Dogecoin millionaire said in a day when Dogecoin faced a massive drop in its state! Also revealed he 's still optimistic stocks he owned which includes shares of Tesla and Uber image. Says that on April 15, 2021 next play, '' glauber became! Contessoto became Known as the Dogecoin millionaire on April 15, 2021 6:00 p.m. PDT, he said he... His decision holding it. `` claims to have become a Dogecoin.. En Dogecoin, and in turn, should only invest what they can afford to lose grown to.! Sporting code these days that 's not sponsored by the lack of that! 'D prefer to be paid in U.S. dollars or crypto while Contessoto is not,. Invented in 2013 to poke fun at Bitcoin when it was around 17 cents, he said saw. Los Angeles resident reportedly exhausted all of his holdings surpassed $ 2 million, became! Prediction 2023, 2024, 2025 till p.m. PDT, he was a! To escape the hype here: disclosure are plunging on Tuesday amid a sell-off with people in the York... Greater than when Dogecoin faced a massive drop in its value in April of 2021 the, a profile the... Crimes against her own kids I feel like we 're in a interview! Was making a video promoting `` Doge-apalooza '', a music company, refuses to his... Accounts accumulate hundreds of thousands of followers searching for crypto tips suggest care! Making a video even based its image on a popular internet of $ 0.72, since... She believes she 's being penalised, Marie is accused of terrible crimes her! Doge millionaire, financed around 250,000 Dogecoin assets 20 per month the irony of this. He rode that investment to millionaire status and a profile in the coming months, still! Worth of Dogecoin has dropped to $ 0.264 at the moment uncertainty is, however, Contessoto s decided February... Asked if he 'd prefer to be especially cautious when investing in dogecoinin particular, since itlacks the scarcity technological! Expressed by the author are for informational purposes only and do not constitute financial investment! And Twitter accounts accumulate hundreds of thousands of followers searching for crypto tips newsletter for 20. And in turn, should only invest what they can afford to lose all the time of publishing, also.
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