An 85-year Harvard study found the No. Since then, Contessoto hasrefused to sell, despite dogecoin'sups and downs. "It has no underlying intrinsic value. 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. In a tweet in April, he claimed to be the "first Dogecoin millionaire of 2021." The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. Gen Z and millennial investors make up nearly 94% of the crypto market, with older generations sticking with more traditional investments, such as bonds and index funds. Is Letmeone dot com a scam or a legit website? In his YouTube video, he stated that Elon Musk held nearly a third of all Dogecoins in circulation. At the time, he considered himself a "technology evangelist" but he now proselytises against cryptocurrency. * 2022 Insider Inc. and finanzen.net GmbH . 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. Please learn about the complete disclosure here: Disclosure. Cryptocurrency gained traction with the emergence of Bitcoin 12 years ago, and has since grown to include more than 10,000 types of coins. Contessoto 202140.72Contessoto18200 ""dogecoin millionaireContessoto16 Contessoto Contessoto"" 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. A Dogecoin investor says he's become a millionaire just over two months after buying into the cryptocurrency, and he's got Elon Musk to thank. 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. Contessoto, 33, invested in Dogecoin last February, according to the New York Times report. This volatility is why experts warn that Crypto . 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. But the volatile meme coin has since dippedand hes no longer a Dogecoin millionaire. "They were all like, you're crazy," he said. I also calculated what I would have done in the stock market if I had just kept all my money in Tesla. I've been passionate about self-development and always loved to read biographies. 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. On February 5, Glauber stated he put about $180,000 into Dogecoin at a price of roughly $0.045 cents. 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. Contessoto has built an online following due to his Dogecoin journey. Even now, he dismisses the idea of selling. 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 . "It felt like people were being just taken for a ride," she said. In reality, crypto prices dropped. Gotta love the conviction. Glauber's personal network of family, friends, associates & neighbors include Mun Chong, Gail George, . 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. Although he remained well ahead on his investment, he was no longer a Dogecoin millionaire. 5.8M subscribers in the CryptoCurrency community. Blood in the streets, right?" . At that time it was worth around 5 cents per coin. Meet Bob Alley, Kirstie Alleys ex-husband (Updated), Funny Marco interviews, age, birthday, and net worth, CREED III Final Trailer: The fight between former friends, Ant-Man and The Wasp: Quantumania (Trailer). This abandoned high school was converted into a 31-unit apartment building, warn to be especially cautious when investing in dogecoin, lacks the scarcity and technological development. The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. admin - May 27, 2021 . The leading community for cryptocurrency news, discussion, and analysis. The difference now is that I feel like it's going to take a lot longer than I had initially expected for these coins to be widely adopted. 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.). The biggest blessing from all this is the online community I've built. Meet Glauber Contessoto, . Better still, don't spend it at all - save it instead. Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. He is known on YouTube as The Dogecoin Millionaire and he is known on Instagram as @ProTheDoge. Whatever the truth, it's impossible to escape the hype. He believes the top 5 cryptocurrencies in five years will be Dogecoin, Ethereum, Bitcoin, Cardano, and Ripple - in that order. Glauber Contessoto twitter is @ProTheDoge. However, financial experts are highly skeptical of dogecoin, as well as other cryptocurrencies. Glauber Contessoto Glauber Contessoto refuses to sell despite losing over $167,000 in one day As AZCoin News reported, Contessoto suddenly became famous worldwide after becoming a millionaire by investing in Dogecoin. However, Contessoto had recently lost $167,000 in a day when Dogecoin faced a massive drop in its value. I went on CNBC, I went to The New York Times, and I said that I wasn't going to sell a single coin. With major cryptocurrencies persisting to be in the red as of the next day, Contessotos portfolio was hit, which only consists of Dogecoin. She also offers a CryptoCharted newsletter for $20 per month. It was at once a show of faith and a marketing strategy. All views expressed in this article are the author's own. About|Contact Us|Terms & Conditions| Privacy Policy. Contessotto, who works in the music industry, claimed Elon Musk, the billionaire, was a major influence on his decision. Join half a million readers enjoying Newsweek's free newsletters. Still, Contessoto's outlook on dogecoin remains extremely bullish. Our generation is so much more aware of things like TikTok and the For You page [TikToks explore page catered individually to users interests] and viral memes and viral content, but up until this point, there hasnt been a way to invest in that financially, Turley said. 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). 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. 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 $10 million. Hoje, tem US$ 2 milhes. Depending on what happens in the coming months, he believes the price could rise. A Division of NBC Universal. About two months later, on April 15, he says he became a dogecoin millionaire on paper. 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. Somewarn investors to be especially cautious when investing in dogecoinin particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. Its rapid increase in popularity and value has made people like Contessoto rich. "Woo-wee, a bloodbath, right? Im truly not worried at the end of the day.. After watching Dogecoin on Reddit, Contessoto s decided on February 5, 2021, to invest greater than. 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. Even if that sounds like Gen Z nonsense to older investors, she said her audience is looking for a change of pace. Today, Dogecoin was trading at $0.19, a 40% decline in value from last week. They gave me half upfront, and the other half when I deliver the video.". Get all the top stories from Crypto Bulls Club to keep track. ", 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.". Whats Purchase Performance prediction atlanta ga charge on debit card? He now has more than $800,000 in Doge. 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. Cincoin abre as portas para uma nova era de incluso social digital iniciando a formao da sua comunidade financeira compartilhando informao e distribu. Nonetheless, Contessoto's plan remains the same: "Once I hit $10 million, then I'll take out 10%. 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. When . How I became an overnight dogecoin millionaire, How this 39-year-old earns $26,000 a year in California. I feel like the war in Ukraine is a big reason. 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. All Rights Reserved. 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". 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. A sudden dip in Dogecoins worth cost Glauber Contessoto a rapid drop in his total net worth. How To, Glauber Contessoto: The 33-Year-Old Dogecoin holder Who Refuses To Sell Despite Losing $167,000 Overnight. He invested not only his savings, but also the stocks he owned which includes shares of Tesla and Uber. The 33-year-old tells CNBC Make It that he decided to invest in Dogecoin after learning about it on Reddit. Glass Onion: Whats the inbreathiate meaning? ", "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. Dogecoin remains a very lucrative trade. According to the Benzinga report, Contessoto feels Dogecoin will "be every newcomers' bridge" into cryptocurrency in the years to come. While Contessoto is not bothered, experts suggest exercising care with dogecoin,advising only to invest as much as you can handle losing. "I had no idea how I was going to make money moving forward," he says. And he still hasn't sold any. The younger generations dont think so. SlumDoge Millionaire," Glauber Contessoto declares to his hundreds of thousands of followers online. He joined the Columbus Crew in 2013 after spending three years with Rapid Bucuresti. However, he was familiar with cryptocurrency but was highly fascinated with its marketing strategy. Glauber Contessoto believes deeply in Dogecoin, betting his life savings on the cryptocurrency's performance. Join the tribe of 1000+ members now. In an interview with Newsweek (linked above), he shared that he used to sell toys to other kids on his bus rides to school. I'm still optimistic though. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet meme. "It took me two months to become a millionaire.". I feel like when the next cryptocurrency bull run happens, everyone will have a cryptocurrency wallet ready. "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. The Dogecoin Millionaire Youtube channel is @thedogecoinmillionaire and he has 66.9K subscribers. 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