After days of research,Contessoto then poured all his savings into it, even resorting to borrowing money through margin investing. 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.). "But with gambling, there's regulation involved, the casinos can't just take your money and run away with it. uses and the stocks to play it. Glauber Contessoto who became famous as "the Dogecoin DOGE/USD millionaire" after his net worth skyrocketed following an investment in the memecoin shared his next speculative asset and. Your email address will not be published. Whats really exciting about crypto is that for the first time in history, we can place a financial value on social capital.. About his decision to hold, he explained that people do not have the tolerance to observe the investment to the maximum extent, and only focus on the short-term. 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. "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.". Gotta love the conviction. 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. 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. had left him in 2011, when the price of bitcoin was approximately $10, in the cryptocurrency. Of course, what further strengthened his decision was his belief in known dogecoin investor Elon Musk, who he thinks is "a genius. "And he posted a picture of a rocket to the moon, Dogecoin to the moon.". I STILL BELIEVE IN #DOGECOIN, he said on Twitter. . Dogecoins rise over the last year is partly down to Tesla CEO Elon Musk, one of the richest men in the world, who has said it is his favorite crypto and has influenced its wild price swings with his tweets. 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. 14.27 on July 22 morning 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. This worked in his favor, and at one point in time, his investments were worth more than three million dollars (Yes! . Courtesy of Glauber Contessoto and Rodrigo Ramos. "Day afterday after day, it was like, one scam, one day, two hacks the next day.". "I'm a long-term holder, you guys know that, know what I'm saying, diamond hands?" 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. But I'm still trying to make money, I still need to make a living. Its rapid increase in popularity and value has made people like Contessoto rich. Young people seem to enjoy taking what we would call contrarian positions that bet against the wisdom of Wall Street, Yermack said. In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. "It's really brought to the forefront that something that has no intrinsic value, that's not tied to any real-life asset or service, that is just plainly a joke, has become on par with some of the more serious cryptocurrencies like Bitcoin or Ethereum. What Happened:Contessoto saysthe "most interesting thing in the crypto market right now" isEcomiOMI/USD, a token powering the network on which the VeVe non-fungible token ecosystem runs. 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. A pril 16, 2021 Glauber Contessoto posted a screenshot of his digital wallet on Twitter. Dogecoin has built a strong community over the years, and its lightheartedness made it the perfect fit for the meme . Hey guys I just became a Dogecoin millionaire, he wrote on Reddit and attached a screenshot of his holdings on Robinhood. In a tweet in April, he claimed to be the first Dogecoin millionaire of 2021.. Altman charges members $7.77 per month and offers courses ranging in price anywhere from $49 to $1,499. * 2022 Insider Inc. and finanzen.net GmbH . In reality, crypto prices dropped. All Rights Reserved. "They're not all that different. Last month his holdings touched $2 million. Contessoto investeerde naar eigen . 18.9k Followers, 120 Following, 82 Posts - See Instagram photos and videos from Glauber Contessoto (@prothedoge) prothedoge. It's like Jay-Z said: "First they love me, then they hate me, then they love me again.". As of around 12:00 p.m. EST on Tuesday, his dogecoin holdings are worth around $931,689. 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 if that sounds like Gen Z nonsense to older investors, she said her audience is looking for a change of pace. In an interview, he said that many of his friends tried to talk him out of it. He plans to buy more of the digital coin and "hodl" for the long haul. I can't sit here saying "I'm gonna hold forever" and then bail as soon as it gets a little tight. So far, her record is a bit uneven. What is the Basketball Player J.R. Smiths Net Worth? He has 11k followers at the time of writing this report. Courtesy of Glauber Contessoto and Rodrigo Ramos. Glauber Contessoto became a crypto millionaire by buying Dogecoin. For now, it would be really convenient for me to completely cash out. HONEST review, Cup Loan Program Application Legit or Scam? 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. Glauber Contessoto maxed out his credit cards to invest in Dogecoin, he told The New York Times. The value of his holdings climbed to $2 million. However, he was familiar with cryptocurrency but was highly fascinated with its marketing strategy. Dogecoins rise over the last year is partly down to Tesla CEO Elon Musk, one of the richest men in the world, who has said it is his favorite crypto and has, One of the developers behind the cryptocurrency, Ross Nicoll, even, 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. Contessoto himself also tells his followers not to invest more than they could afford to lose. Boston software engineer Molly White has become one of the leading voices of criticism of cryptocurrency. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were worth $700,217.09. 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. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. Blood in the streets, right?" he told his many online followers in a video. Glauber Contessoto put all his money into Dogecoin. Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. Glauber Contessoto's dogecoin holdings on Robinhood as of July 20 at 2:50 p.m. EST. In February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. But what if I tell you that Mr. Glauber Contessoto did just that without taking into account the risks associated with the investment. Net Worth: Relationship: Single Kids: Edit this Information. 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's dogecoin holdings on Robinhood as of around 12:00 p.m. EST on Tuesday, July 6.. 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. And the main reason that people invest in cryptocurrency is because they believe that there's a greater fool out there. Since then I have kept every single coin. His holdings went up in value and touched $2 million. 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. When I'm not creating content, I'm most often playing chess. A rash . The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. For us to get there, we have to all believe in the same thing. For Contessoto, the belief in putting his whole life's savings into a cryptocurrency that was born out of an internet meme was more than just diving in headfirst into a nascent trend, as he loved the community surrounding dogecoin, even appreciating the cryptocurrency's meme origins. Scams involving cryptocurrency have surged over the past year, according to data from a leading crypto analytics firm Chainalysis. He currently resides in Brazil. 2023 Benzinga.com. Losing A 6-Figure Sum In Dogecoin Worth Within 24 Hours. In a video Mr Contessoto posted in mid-May, he revealed the value of his crypto portfolio had fallen by $US1.8 million in a year but he had still made $US281,000 on his investment. Still, Contessoto's outlook on dogecoin remains extremely bullish. A Division of NBC Universal. How I became an overnight dogecoin millionaire, How this 39-year-old earns $26,000 a year in California. Investorscould get burned, and in turn, should only invest what they can afford to lose. Glauber Contessoto Instagram (IG) is @prothedoge. Yesterday, he announced to the Reddit community that he is now a Crypto millionaire. Last month his holdings touched $2 million. "The insiders sold their tokens, made money, when it was all said and done, those people who bought on the good news and on the news that was being spread by the promoters, suffered extraordinary losses," said Mr Scott. "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.". So there's a lot of frustration, there's a lot of negativity, there's a lot of people wanting to find a scapegoat or wanting to find a target to spread this hate to. I feel like the war in Ukraine is a big reason. "To our mind, as we alleged in our complaint, it appears to be a classic pump and dump scheme.". 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. Putting Dogecoin as a better candidate for being the number 1 crypto ahead of Bitcoin and Ethereum. Glauber Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk's tweets caused prices to soar. Education + Add. Glauber Contessoto, 33, invested all of his funds into dogecoin, a meme-inspired cryptocurrency that has seen a significant increase in value this year. Maren Altman, 22, has reached full-blown influencer status by billing herself as a crypto astrologist.. Last February of 2021, Glauber Contessoto, 33 years old and a crypto trader, invested all of his money in Dogecoin. Obviously that's going to affect cryptocurrency. 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. He believes in his dog god and no one can tell him otherwise. Four months earlier, when he bought in, Dogecoin was priced at around 4.5 cents. Last week, he bought over $5,300 worth of dogecoin when it was around 17 cents, he said. "Sugarland Texas, if you guys hold Dogecoin, if you love Dogecoin come out and celebrate with us, we're going to have live music!". But as we all know, cryptocurrencies have been undergoing a lull lately. Glauber Contessoto, a music company employee plunged his entire $180,000 savings into Dogecoin in February. "That's about six months salary at my old job," Contessoto says. 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. $3 million). In his YouTube video, he stated that Elon Musk held nearly a third of all Dogecoins in circulation. Their extreme volatility is one reason why experts warn that it's a risky, speculative investment. After the major currencies hit all-time highs in May a single Bitcoin peaked at around $65,000 theyve been dropping rapidly, with a Bitcoin now worth less than half that. ", 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.". Glauber Contessoto 33 Dogecoin All-in Dogecoin . Glauber Contessoto puso todo su dinero en Dogecoin. I'd be sitting at a profit, and I would be able to just see where the market goes before investing again. Glauber (born August 5, 1983) is famous for being soccer player. On April 15th, it reached a new peak of about $0.45, bringing Contessoto's DOGE holdings to $1,081,441.29. I've been passionate about self-development and always loved to read biographies. The biggest blessing from all this is the online community I've built. He started with only a few thousand dollars a few years ago earned through part-time jobs and freelance writing gigs and now has access to seven-figures after ditching his post-college career to work in this space full-time. [4] References [ edit] Locke, Taylor (2021-07-06). The 33-year old crypto enthusiast put everything at stake but soon got remunerated as Dogecoins worth increased during the first half of 2021. [ Edit ] Locke, Taylor ( 2021-07-06 ) millionaire a little over two months after Elon held! In cryptocurrency is because they believe that there 's regulation involved, the ca. A long-term holder, you guys know that, know what I 'm a holder! How this 39-year-old earns $ 26,000 a year in California out his credit to. 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