Glauber Contessoto, also known as the “Dogecoin millionaire”, made a sizable bet on the popular but volatile Dogecoin cryptocurrency. So what is he doing now? Here are the details…
Dogecoin millionaire background: What happened?
As we reported as Kriptokoin.com, all of the Los Angeles resident’s personal savings were invested in Dogecoin. In April 2021, when the value of Dogecoin hit an all-time high of $0.72, Contessoto claimed that his initial $180,000 portfolio of dogecoins had reached nearly $2 million. However, the nickname “Dogecoin millionaire” was short-lived, as DOGE dropped significantly the following month and Contessoto’s portfolio lost over $160,000 in a single day at one point.
The overall value of the Dogecoin investment certainly took a hit during the crypto crash that followed months later, while Contessoto said he doesn’t regret holding the coin, even if Dogecoin continues to drop, it will rise in value. claimed to believe. Contessoto didn’t start out as the DOGE millionaire known today. In fact, he claimed that he actually “raised really poor”. But all that changed when Contessoto first learned about Dogecoin on Reddit.
How is the DOGE millionaire doing today?
Although the DOGE price is nowhere near its previous all-time high today, the “Dogecoin millionaire” still refuses to sell the cryptocurrency. Contessoto even told CNBC that he views the DOGE portfolio as a savings account and still continues to accumulate more coins when it drops. In a tweet, Contessoto momentarily celebrated his one-year anniversary of becoming a millionaire and insisted that he was “just getting started.”
Furthermore, Contessoto recently shared a YouTube video where he sells his own collection of beard cream called “Diamond Hand”. In the same video, he also announced that he holds about 3.9 million units of DOGE, valued at over $550,000. As for what she plans to do once she gets the cash, she shared that she hopes to start her own record label to ensure her mother never has to work again. When the millionaire hits his $10 million goal, he aims to take just 10 percent of his portfolio and continue growing the rest.
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