However, financial experts are highlyskeptical of dogecoin, as well as other cryptocurrencies. 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. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up.". The irony of all this is that Dogecoin was meant to be a joke. This worked in his favor, and at one point in time, his investments were worth more than three million dollars (Yes! (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? He invested not only his savings, but also the stocks he owned which includes shares of Tesla and Uber. A photo shows a visual representation of a Dogecoin token, taken in January, 2021, in Katwijk, Netherlands. He no longer works at the music company in Los Angeles. 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.". Contessoto, who works in a music company, refuses to sell his investment in dogecoin despite losing $167,000 in one day. "Of course, I said dogecoin," he says. By the time he was working, he recalled having to ride a bicycle to work every day when his car broke down. An 85-year Harvard study found the No. Glauber Contessoto's dogecoin holdings on Robinhood as of around 12:00 p.m. EST on Tuesday, July 6. All information mentioned in our website is for informational and educational purposes only. Now, with dogecoin trading around 17 cents, he continues to buy the dip. Between hissavings and borrowed funds, Contessoto said, heinvested over $250,000 in dogecoinon Feb. 5 when it was priced at about 4.5 cents. Gen Z and millennial investors are flocking to buy shares of cryptocoin, such as Bitcoin or Ethereum, with the hopes of winning big. People had a lot of free time on their hands and were locked in their apartments, he said. Glauber Contessoto's dogecoin holdings on Robinhood as of July 20 at 2:50 p.m. EST. Contessoto was intrigued by dogecoin for a few reasons. Better still, don't spend it at all - save it instead. "It felt like people were being just taken for a ride," she said. 14.27 on July 22 morning 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). In a tweet in April, he claimed to be the "first Dogecoin millionaire of 2021." And he still hasn't sold any. I'm still optimistic though. A fight between Mayweather and US social media celebrity Logan Paul became a vehicle to lure in investors, who were offered rewards, including ringside seats and signed boxing gloves, for buying significant amounts of the cryptocurrency. I started SuccessTitan to allow everyone to easily learn from the ultra-successful and achieve more in every area of their life. uses and the stocks to play it. As of around 12:00 p.m. EST on Tuesday, his dogecoin holdings are worth around $931,689. However, this all changed whenContessoto first learned about dogecoin on Reddit. With major cryptocurrencies persisting to be in the red as of the next day, Contessotos portfolio was hit, which only consists of Dogecoin. Dogecoin remains a very lucrative trade. Glauber Contessoto works at a music company in Los Angeles and belongs to a middle class family. In addition, Contessoto shared in recent a YouTube video that he's selling his own beard cream lineup called the "Diamond Hand." Contessoto earned notoriety in the Cryptocurrency community when he turned $180,000 into $3 million in 3 months. Would-be Dogecoin millionaire Glauber Contessoto is convinced that DOGE is a HODL even after the crypto token's price crashed further this week. 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. After covering all of his bills, including rent, food and other expenses, Contessoto plans to continue to invest as much as he can in dogecoin. Cryptobullsclub is a trusted Indian crypto community followed by crypto traders and investors all over the world. The coin hit 16 cents Tuesday morning before inching up to 17 cents. "People are going to start investing in Dogecoin and it's going to take off. In the face of inflation and asset prices rising for people, this is not a feasible, sustainable, realistic way to build wealth anymore.. I'd be sitting at a profit, and I would be able to just see where the market goes before investing again. "Imagine the influence that she has," Mr Scott said. He dabbled in the music business, dabbled in the stock market, and then, last year, turned to cryptocurrency specifically Dogecoin, a digital currency based on an image of a Shibu Inu, a Japanese hunting dog, a popular internet meme. A dollar invested in Dogecoin on Jan. 1 would be worth $203 today much more than a comparable investment in . As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were. The 33-year-old tells CNBC Make It that he decided to invest in Dogecoin after learning about it on Reddit. A rash . 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. 82 posts. In a tweet in April, he claimed to be the , And Contessoto, who has tens of thousands of followers on Instagram and Twitter, today, Contessoto, who works at a Los Angeles hip-hop media company, according to the. Glauber Contessoto became a crypto millionaire by buying Dogecoin. From Formula One to football, there is hardly a sporting code these days that's not sponsored by the cryptocurrency industry. 5.8M subscribers in the CryptoCurrency community. In February 2021, I put $188,000my life savingsinto Dogecoin. 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. Net Worth: Relationship: Single Kids: Edit this Information. "It's getting crazy in this crypto market, right? stocks, Salesforce results give CEO Benioff breathing room', Fast Money trader Steve Grasso said, Is ChatGPT the tip of the iceberg? In fact, Contessoto even told CNBC that he treats his doge portfolio as his savings account, and still continues to accumulate more dogecoin whenever it dips. 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. Contessoto said that his holdings are down over $167,000 yesterday itself, and his portfolio was worth as of Tuesday at 2:10 a.m. IST. As to why Dogecoin and cryptocurrency is in its current state? But 33-year-old Los Angeles resident Jaysn Prolifiqlegally known as Glauber Contessototold Newsweek he does not regret hanging on to his . 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. 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. According to CoinMarketCap, Dogecoin is at the moment trading at around $0.2191, with a market value of over $28 billion. He has 11k followers at the time of writing this report. 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. Even in May, when the value of his holdings surpassed $2 million, he still didn't budge. Nicoll today updated his followers on Twitter on the teams progress, to which Musk responded: This is an important improvement., Meanwhile, however, the entire crypto market is suffering at the moment. I feel like when the next cryptocurrency bull run happens, everyone will have a cryptocurrency wallet ready. Yermack believes the pandemic only accelerated this trend. Glauber Contessoto, who is also known as 'Dogecoin millionaire', became famous after sharing his Dogecoin portfolio on Reddit. If I made $3 million on Tesla, nobody would care, but they do care about the dude who turned $188,000 into $3 million with a cryptocurrency featuring a dog meme. . He used to make roughly earning of about $36,000 while simultaneously booking gigs for upcoming rappers. ", "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. But I'm still trying to make money, I still need to make a living. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet meme. [4] References [ edit] Locke, Taylor (2021-07-06). Investorscould get burned, and in turn, should only invest what they can afford to lose. On April 15th, it reached a new peak of about $0.45, bringing Contessoto's DOGE holdings to $1,081,441.29. Still, Contessoto's outlook on dogecoin remains extremely bullish. His comments follow Augustreportsthat Marvel partnered with VeVe to launch its first NFT collection featuring popular superhero Spider-Man with prices ranging between $40 and $400. "Obviously, it helped that Elon Musk was also a fan of Dogecoin.". 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). At the moment, there are ,00 Bitcoin owners . 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.. Contessoto didn't exactly start out as the dogecoin millionaire he's known as today. The price of Dogecoin has dropped to $0.264 at the time of publishing, but Contessoto . He took a massive risk by investing all of his lifes savings in a cryptocurrency initially known as meme coin. Glauber Contessoto Instagram (IG) is @prothedoge. "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.". 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. 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. 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. Then I started getting a lot of hate. But his risks paid off. (Full Story) By. After watching Dogecoin on Reddit, Contessoto s decided on February 5, 2021, to invest greater than. "Day afterday after day, it was like, one scam, one day, two hacks the next day.". 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. That was worth more than $7,000 at the time I interviewed them together. 2023 Benzinga.com. We send memes to each other all the time, it's just the way that we communicate, and Generation Z.". In April 2021, Contessoto told CNBC's "Make It. If I could go back in time, I probably would have taken out $1 million or $500,000. I feel like the war in Ukraine is a big reason. In a YouTube video, he explained why he bought the joke money, and two months later, he announced his new millionaire status on the Dogecoin subreddit. Instead, he earns a fair amount by selling merchandise on his website. 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% . Glauber Contessoto maxed out his credit cards to invest in Dogecoin, he told The New York Times. Even now, he dismisses the idea of selling. "And he posted a picture of a rocket to the moon, Dogecoin to the moon.". Turley, who lives in Los Angeles and works in crypto strategy at a streaming app, claims hes made millions in the crypto market. So, I followed my heart. On February 5, Glauber stated he put about $180,000 into Dogecoin at a price of roughly $0.045 cents. I STILL BELIEVE IN #DOGECOIN, he. Mr Stark is also concerned is that cryptocurrency is facilitating crime. "I see Dogecoin as more honest about what it actually is," she said. He currently resides in Brazil. Please learn about the complete disclosure here: Disclosure. Benzinga does not provide investment advice. They thought he was risking too much by investing in this joke coin. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were worth $700,217.09. Amid the rout, Mr Contessoto was counting the cost. 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. The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. "It has no underlying intrinsic value. In July, Contessoto said he bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakhs). Soon, it was announced that he had become a millionaire. He flew to the United States at the age of 6 with his family and resided in Suburban, Maryland. Of course, what further strengthened his decision was his belief in known dogecoin investor Elon Musk, who he thinks is "a genius. Losing A 6-Figure Sum In Dogecoin Worth Within 24 Hours. Glauber Contessoto is 33 years old at the time of writing this report. About two months later, on April 15, he said, hebecame a dogecoin millionaireon paper. After hitting a record high on May 8 of around 73 cents, the digital coin fell to around 47 cents on May 9, and Contessoto invested another $17,500, he previously said. His net worth continued escalating as Dogecoin grew, eventually hitting a 300% rise in its value in April. "But with gambling, there's regulation involved, the casinos can't just take your money and run away with it. He said that young investors also appreciate that crypto feels a little bit renegade. Lynne Austin Net Worth, Height, Bio, Birthday, Wiki, Stephen Burrows Net Worth, Height, Bio, Birthday, Wiki, Ian Brennan Net Worth, Height, Bio, Birthday, Wiki, HotshotGG Net Worth, Girlfriend (LilyPichu), Biography. Blood in the streets, right?" 120 following. Contessoto 202140.72Contessoto18200 ""dogecoin millionaireContessoto16 Contessoto Contessoto"" Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. Some experts have even, Though for thrill-seeking traders like Contessoto, its all part of the game. 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. 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. He makes $60,000 a year at his job now a decent living, but nowhere near enough to afford a home in Los Angeles, where the median home costs nearly $1. Mr. Contessoto, legally named Jaysn Prolifiq, was born in Brazil. A young Australian tech marketer, Jackson Palmer, co-founded it to mock and satirise the hype about crypto. He's hopeful it will hit $1 by the end of the year. When I'm not creating content, I'm most often playing chess. It's like Jay-Z said: "First they love me, then they hate me, then they love me again.". Crypto is highly volatile. My options were to sell out of my Dogecoin at $3 million and go on to live a happy life or, I had be out there hustling. Dogecoin was invented in 2013 to poke fun at Bitcoin. 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. He also showed them that he was doubling down, recording himself as he forked out another $US10,000 on Dogecoin. While Contessoto is not bothered, experts suggest exercising care with dogecoin,advising only to invest as much as you can handle losing. ", Investors are mounting big bets against these 2 A.I. In reality, crypto prices dropped. We've received your submission. 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Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. Glauber Contessoto has now turned his attention, Cardano. Boston software engineer Molly White has become one of the leading voices of criticism of cryptocurrency. Glauber Contessoto, pictured, invested his life savings in Dogecoin in 2021. 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. 506 votes, 440 comments. 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. Now, the price of the meme coin has dropped dramaticallyalong with the rest of the market. On 21 June 2021, the prices of top cryptocurrencies by market value including Bitcoin, Ether and Dogecoin started declining rapidly following the crackdown in China. 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. Now, my investment is worth around $230,000. I didn't sell any. "They were all like, you're crazy," he said. Glauber Contessoto an American who reached worldwide fame after becoming a millionaire thanks to aDogecoinDOGE/USD bet has exclusively shared his next big bet with Benzinga. Pro the Doge here, A.K.A. "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor,previously toldCNBC Make It. Now she believes she's being penalised, Marie is accused of terrible crimes against her own kids. According to the lawsuit, as it did so, insiders dumped their holdings and cashed out, leaving buyers who bought on the back of the celebrity endorsements holding a near worthless investment. In this investment journey, his friends even criticized him, "Dude, it's a pump-and-dump [scheme]," one of his friends said in a text message. The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. This financial instability became his driving force to become wealthy and successful. Four months earlier, when he bought in, Dogecoin was priced at around 4.5 cents. She had considered crypto and the blockchain technology on which it's built of marginal interest, until she noticed, and began to chronicle, the number of scams, hacks and frauds being perpetratedin the crypto sphere. Of about $ 36,000 while simultaneously booking gigs for upcoming rappers life in! In time, his investments were worth more than three million dollars ( Yes booking gigs upcoming! 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