Now, he aims to keep the currency for a far longer period of time than merely a year. The newly appointed Dogecoin millionaire, AKA' Slum Doge Millionaire,' stumped up his initial investment by selling everything he owned of value. However, financial experts are highly skeptical of dogecoin, as well as other cryptocurrencies. Glauber Contessoto, 33, became a dogecoin millionaire after investing his life savings, $250,000, into the cryptocurrency when it was at $0.045. An 85-year Harvard study found the No. 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. 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. Cryptobullsclub is a trusted Indian crypto community followed by crypto traders and investors all over the world. Contessoto is typical of the emerging demographic of crypto investors. Altcoins, which typically follow Bitcoin sell-offs, have followed. 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.). 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. Courtesy of Glauber Contessoto and Rodrigo Ramos. 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. 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.. Other people are telling me to stay strong, others sharing their stories. Turley, who lives in Los Angeles and works in crypto strategy at a streaming app, claims hes made millions in the crypto market. Join half a million readers enjoying Newsweek's free newsletters. 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. Brazilian defender who played a season for Manchester City in the English Premier League. His portfolio was worth about $831k as of Tuesday 4.40pm EST. A Division of NBC Universal. Ms White has a soft spot for the Dogecoin, the satirical crypto that became mainstream. Four months earlier, when he bought in, Dogecoin was priced at around 4.5 cents. 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. In one month, he has made $28,000 from social media ads and promotions, which was primarily paid out in dogecoin. Gotta love the conviction. Glauber Contessoto says that on April 15 at 6:00 p.m. PDT, he became a dogecoin millionaire. "I'm a long-term holder, you guys know that, know what I'm saying, diamond hands?" 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 . 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 $2m. Up until yesterday, I had been a millionaire, if bitcoin and ethereum werent also [hit], Id be worried.. He is known on YouTube as The Dogecoin Millionaire and he is known on Instagram as @ProTheDoge. Hoje, tem US$ 2 milhes. "I don't typically refer to cryptocurrencies as investments because I see them a lot more like gambling," she told Four Corners. 506 votes, 440 comments. Tank Davis Net Worth 2023: How Much Does Tank Davis Make? At the same time, with my most recent YouTube videos, I've been getting a lot of support. But Altman said her clients are along for a wild ride. At current rates, Contessoto is still ahead in terms of net worth. Since then I have kept every single coin. Last month his holdings touched $2 million. "Obviously, it helped that Elon Musk was also a fan of Dogecoin.". "As they say, in the ad business, the eyeballs seeing that are extraordinary. 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. Glauber Contessoto puso todo lo que tena en Dogecoin, una criptomoneda muy voltil que se invent originalmente como una broma. In reality, crypto prices dropped. I can't sit here saying "I'm gonna hold forever" and then bail as soon as it gets a little tight. Still, Contessoto's outlook on dogecoin remains extremely bullish. Contessoto didn't exactly start out as the dogecoin millionaire he's known as today. Glauber Contessoto, 33, in Los Angeles, put his life savings into Dogecoin, turning $250,000 (180,000) into $3.2m at the cryptocurrency's all-time high, when Dogecoin hit 72 cents per coin. Nonetheless, Contessoto's plan remains the same: "Once I hit $10 million, then I'll take out 10%. However, he had to do a lot of couch surfing for several years as buying an estate in Los Angeles is pretty expensive. Glauber Contessoto's dogecoin holdings on Robinhood as of July 20 at 2:50 p.m. EST. One of them is just more plainly based in the shared belief that a silly dog token will go up in value.". We at cryptobullsclub.com use cookies to personalise ads and to analyse our traffic. 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. 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. 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. Even now, he dismisses the idea of selling. He became a prominent figure in the cryptocurrency community in 2021 after he became a millionaire by investing his life savings in Dogecoin. I personally believe that next time we have an incredible market high, Bitcoin is going to hit $100,000 and Dogecoin will hit a dollar. 82 posts. According to CoinMarketCap, Dogecoin is at the moment trading at around $0.2191, with a market value of over $28 billion. "It took me two months to become a millionaire.". The meme-induced cryptocurrency that was created as a joke back in 2013 based on the Doge meme of a dog breed Shiba Inu, rocketed to about 73 cents on 8 May, and the value of Contessotos holdings exceeded $2 million. In the following weeks, it went to $2 million, then close to $3 million. He no longer works at the music company in Los Angeles. "Day afterday after day, it was like, one scam, one day, two hacks the next day.". Obviously that's going to affect cryptocurrency. "I call it the language of the millennials, memes. I didn't sell any. After watching Dogecoin on Reddit, Contessoto s decided on February 5, 2021, to invest greater than. PPP Loan Gone Movie Review: To Watch Or Not? 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. How Glauber Contessoto Became Known as the Dogecoin Millionaire. "I see Dogecoin as more honest about what it actually is," she said. 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. "I stayed up all night time taking a look at my display," Contessoto, 33, once told CNBC. He said that he strongly believed in Dogecoins potential and that it could help him build wealth to pass on to his family. 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. I STILL BELIEVE IN #DOGECOIN, he. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. She also offers a CryptoCharted newsletter for $20 per month. ", Despite the dogecoin price today being nowhere near its previous all-time high, the "dogecoin millionaire" still refuses to sell his meme-inspired cryptocurrency. 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. He earns a little bit of money from selling merch on his website, but his main focus is developing his social media presence. The younger generation is now becoming a lot more aware. Source: Twitter. I'm here for the long run, and if the ship goes down, I'm going down with the ship. 14.27 on July 22 morning Whats really exciting about crypto is that for the first time in history, we can place a financial value on social capital.. It was a meme-fueled cryptocurrency that rose in value in the first half of 2021. A dollar invested in Dogecoin on Jan. 1 would be worth $203 today much more than a comparable investment in . Glauber Contessoto put everything he had into Dogecoin, a highly volatile cryptocurrency that was originally invented as a joke. The housing market is likely another; I feel like we're in a bubble with that. He said that he stuck to his plans despite warnings from friends and that hed decided to take out 10% of his holdings once he hit $10 million. Today, Dogecoin was trading at $0.19, a 40% decline in value from last week. If I could go back in time, I probably would have taken out $1 million or $500,000. 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. He worked twice his strength to have a place of his own. HONEST review, Cup Loan Program Application Legit or Scam? IF I CAN HODL YOU CAN HODL!!! Dogecoin is currently worth around $0.23, down . "Doge is my savings account.". Glauber Contessoto, pictured, invested his life savings in Dogecoin in 2021. But, "if it drops below 20 cents next week, I'll buy the dip again," Contessoto says. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet meme. So in 2019, he started investing in renowned companies like Uber and Tesla on Robinhood, which is a commission-free trading app. MKR Price Prediction 2023, What Is Staking In Cryptocurrency? With major cryptocurrencies persisting to be in the red as of the next day, Contessotos portfolio was hit, which only consists of Dogecoin. Some experts have even said that we are now entering a bear market. All rights reserved. Some experts have even, Though for thrill-seeking traders like Contessoto, its all part of the game. * 2022 Insider Inc. and finanzen.net GmbH . "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.". 120 following. Investorscould get burned, and in turn, should only invest what they can afford to lose. But his risks paid off. When Four Corners caught up with him, he was making a video promoting "Doge-apalooza", a festival dedicated to Dogecoin. Glauber Contessoto, a music company employee plunged his entire $180,000 savings into Dogecoin in February. His net worth continued escalating as Dogecoin grew, eventually hitting a 300% rise in its value in April. Kardashian's post brought in new investors and pumped up the volume of trading. had left him in 2011, when the price of bitcoin was approximately $10, in the cryptocurrency. Your email address will not be published. (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? As the New York Times magazine reports, Glauber Contessoto, 33 years old, made his initial investment in the blockchain technology in February 2020. People are just on the side lines asking: "When do we jump in?". Dogecoin remains a very lucrative trade. His net worth continued escalating as Dogecoin grew, eventually hitting a 300% rise in its value in April. Contessoto invested over 250,000 in Dogecoin holdings on February 5, and two months later, he later claimed that he became a Dogecoin millionaire. Of course, what further strengthened his decision was his belief in known dogecoin investor Elon Musk, who he thinks is "a genius. 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. In fact, he claimed that he actually "grew up really poor" (via CNBC). The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. Once I put it all out there, I even had people messaging me apologizing for saying mean things to me before. 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. 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? "It made sense to me to invest in Dogecoin because it's the very first time you have a meme and a cryptocurrency paired together," he said. 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. 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. At its highest point, the value of the joke crypto hit $US89 billion (124.7 billion) an astonishing figure, given that Dogecoin has little real-world function beyond speculation. But 33-year-old Los Angeles resident Jaysn Prolifiqlegally known as Glauber Contessototold Newsweek he does not regret hanging on to his . Last month his holdings touched $2 million. So, I followed my heart. Yesterday, he announced to the Reddit community that he is now a Crypto millionaire. I'd be sitting at a profit, and I would be able to just see where the market goes before investing again. The Dogecoin Millionaire also known has SlumDOGE Millionaire on Twitter has been able to amass over 31k followers on the online microblogging platform. "I had no idea how I was going to make money moving forward," he says. For now, it would be really convenient for me to completely cash out. Soon, it was announced that he had become a millionaire. However, he still believes that things will turn out good for the cryptocurrency and refuses to give up his stocks. . Dogecoin is trading at around 23 cents as of 4:00 p.m. EST on Tuesday, according to CoinMarketCap. "To our mind, as we alleged in our complaint, it appears to be a classic pump and dump scheme.". At the time, he considered himself a "technology evangelist" but he now proselytises against cryptocurrency. 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. Contessoto told CNBC that he grew up poor and that his gain from the meme currency was a huge deal for him. "Doge is my savings account," he said. Glauber Contessoto, 33, became a 'dogecoin millionaire' after investing his life savings, or $250,000, into the cryptocurrency. If I dont have a lot to start out with, theres not as much to lose.. 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". However, he was familiar with cryptocurrency but was highly fascinated with its marketing strategy. Contessoto 202140.72Contessoto18200 ""dogecoin millionaireContessoto16 Contessoto Contessoto"" 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). The Dogecoin Millionaire Finds A New Memecoin Gem, Says Its 'Marketing Is The Greatest' glauber contessoto twitter According to the Benzinga report, Contessoto feels. ", Investors are mounting big bets against these 2 A.I. $3 million). Crypto is highly volatile. In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. On April 15, Glauber Contessoto, a 33-year-old Los Angeles native, claimed to be a Dogecoin millionaire. As a teenager, he developed a strong liking for hip-hop music and decided to pursue his career in this direction after school. "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. "[Musk] tweeted back-to-back like on a rant where he's saying, "Dogecoin is the future, Dogecoin is the people's crypto. When I'm not creating content, I'm most often playing chess. "Of course, I said dogecoin," he says. He believes in his dog god and no one can tell him otherwise. (Updated). 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. 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