"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. $3 million). Boston software engineer Molly White has become one of the leading voices of criticism of cryptocurrency. I'm here for the long run, and if the ship goes down, I'm going down with the ship. he told his many online followers in a video. About two months later, on April 15, he says he became a dogecoin millionaire on paper. Investorscould get burned, and in turn, should only invest what they can afford to lose. Contessoto investeerde naar eigen . Glauber Contessoto took a big risk on dogecoin, a meme-inspired cryptocurrency that began as a joke, earlier this year. At current rates, Contessoto is still ahead in terms of net worth. Now, my investment is worth around $230,000. 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. . 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. The 33-year-old tells CNBC Make It that he decided to invest in Dogecoin after learning about it on Reddit. Last month his holdings touched $2 million. He said that young investors also appreciate that crypto feels a little bit renegade. #DiamondHands this is the way #dogecoin we will rise again, the tweet read. The younger generations dont think so. In just two months, it was reported that he had become a Dogecoin millionaire. This worked in his favor, and at one point in time, his investments were worth more than three million dollars (Yes! SlumDoge Millionaire," Glauber Contessoto declares to his hundreds of thousands of followers online. But on Monday . HONEST review, Boughloaf.com treadmill & other products are scams: HONEST review. Young people seem to enjoy taking what we would call contrarian positions that bet against the wisdom of Wall Street, Yermack said. 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. 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. 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What is Maker? He's hopeful it will hit $1 by the end of the year. All Rights Reserved. "[Musk] tweeted back-to-back like on a rant where he's saying, "Dogecoin is the future, Dogecoin is the people's crypto. This financial instability became his driving force to become wealthy and successful. A young Australian tech marketer, Jackson Palmer, co-founded it to mock and satirise the hype about crypto. The volatility attracts people who like gambling, excitement and so forth, said David Yermack, a professor of finance and business transformation at New York University. But crypto investor Cooper Turley, 26, said its only a matter of time before alternative currencies are completely mainstream. So I still feel like I was doing the right thing by holding. The housing market is likely another; I feel like we're in a bubble with that. Glauber Contessoto twitter is @ProTheDoge. At. Better still, don't spend it at all - save it instead. He told Insider that he believes cardano will be "blockchain 3.0" and is buying the ada token. Glauber Contessoto put all his money into Dogecoin. 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. Some say cryptocurrency is the future of money, and the technology it's built on is destined to revolutionise the internet and the society. One of them is just more plainly based in the shared belief that a silly dog token will go up in value.". "Obviously, it helped that Elon Musk was also a fan of Dogecoin.". Theres a kind of existential nihilism, Altman said. Glauber Contessoto Instagram (IG) is @prothedoge. 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 is now among the top dozen cryptocurrencies, sitting alongside so-called "blue chip" cryptos such as Bitcoin and Ethereum. Glauber Contessoto, a music company employee plunged his entire $180,000 savings into Dogecoin in February. IF I CAN HODL YOU CAN HODL!!! Gen Z and millennial investors are flocking to buy shares of cryptocoin, such as Bitcoin or Ethereum, with the hopes of winning big. Courtesy of Glauber Contessoto and Rodrigo Ramos. 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. In addition, Contessoto shared in recent a YouTube video that he's selling his own beard cream lineup called the "Diamond Hand." IF I CAN HODL YOU CAN HODL!!! A dollar invested in Dogecoin on Jan. 1 would be worth $203 today much more than a comparable investment in . Still, Contessoto, just like many big bulls, remains extremely optimistic about Dogecoin, although he isnt presently a millionaire by Dogecoin on paper. And none of what you read here is by any way, an investment advice. Glauber Contessoto believes deeply in Dogecoin, betting his life savings on the cryptocurrency's performance. "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. Glauber Contessoto him 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. Mr Contessoto initially backed his hunch about Dogecoin with a small investment. Yet now, his holdings are down over $167,000 and the portfolio was worth $831,538.88. (He could have sniped back by reminding them hes still up 3X on his investment.). Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. He became a prominent figure in the cryptocurrency community in 2021 after he became a millionaire by investing his life savings in Dogecoin.. Meet Glauber Contessoto, . 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. "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.". Glauber Contessoto says that on April 15 at 6:00 p.m. PDT, he became a dogecoin millionaire. Glauber Contessoto has now turned his attention, Cardano. Crypto is highly volatile. 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. According to his own account, Mr Contessoto grew up poor in a family that emigrated to the United States from Brazil and was determined to make money. But fast forward to today and the cryptocurrency is the seventh-most valuable out there, with a market cap of over $25 billion. Dogecoin was invented in 2013 to poke fun at Bitcoin. Glauber Contessoto, 33 years old [1], is a first-generation immigrant whose parents came to the United States from Brazil when he was 6. Once I put it all out there, I even had people messaging me apologizing for saying mean things to me before. The majority are under 35, and theyre overwhelmingly male, according to Yermack. Last month his holdings touched $2 million. 120 following. "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. 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. 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Since then its value has declinedthough he's still optimistic. had left him in 2011, when the price of bitcoin was approximately $10, in the cryptocurrency. In an interview, he said that many of his friends tried to talk him out of it. Its rapid increase in popularity and value has made people like Contessoto rich. Glauber Contessoto, pictured, invested his life savings in Dogecoin in 2021. She accurately predicted Januarys market correction, but then wrongly foresaw a bull market in May. Glauber Contessoto, 33, became a dogecoin millionaire after investing his life savings, $250,000, into the cryptocurrency when it was at $0.045. We know that Glauber is single at this point. In July, Contessoto said he bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakhs). Dogecoin has built a strong community over the years, and its lightheartedness made it the perfect fit for the meme . As a child, he saw his parents struggling to make ends meet. "Doge is my savings account.". Glauber Contessoto became a crypto millionaire by buying Dogecoin. 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. 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. Since, Contessoto has refused to sell, despite dogecoin's ups and downs. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up.". 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. Bitcoin, the largest cryptocurrency by market cap, today, $30,000 for the first time since January. "Imagine the influence that she has," Mr Scott said. Four months earlier, when he bought in, Dogecoin was priced at around 4.5 cents. 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