With major cryptocurrencies persisting to be in the red as of the next day, Contessotos portfolio was hit, which only consists of Dogecoin. Last February of 2021, Glauber Contessoto, 33 years old and a crypto trader, invested all of his money in Dogecoin. Now, my investment is worth around $230,000. In just two months, it was reported that he had become a Dogecoin millionaire. Contessoto told CNBC that he grew up poor and that his gain from the meme currency was a huge deal for him. Altcoins, which typically follow Bitcoin sell-offs, have followed. The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. 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. In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. 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. 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. Soon, it was announced that he had become a millionaire. He earns a little bit of money from selling merch on his website, but his main focus is developing his social media presence. 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In reality, crypto prices dropped. "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.". That changed somewhat when I decided to start doing collaborations, sponsorships, ads and promos for other cryptocurrencies and other projects. 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. "Until I reach my goal, I'll continue to buy, hold and 'diamond hand' it. Glauber Contessoto's dogecoin holdings on Robinhood as of around 12:00 p.m. EST on Tuesday, July 6.. 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. When . But I still get a lot of hate from people. But what if I tell you that Mr. Glauber Contessoto did just that without taking into account the risks associated with the investment. He has 11k followers at the time of writing this report. "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. Since, Contessoto has refused to sell, despite dogecoin's ups and downs. Nonetheless, Contessoto's plan remains the same: "Once I hit $10 million, then I'll take out 10%. Even now, he dismisses the idea of selling. 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. But the big thing was being a part of the Dogecoin community. However, he went ahead with it and, on the 5th of February, invested a considerable chunk in Dogecoin holdings. Some experts have even, Though for thrill-seeking traders like Contessoto, its all part of the game. So in 2019, he started investing in renowned companies like Uber and Tesla on Robinhood, which is a commission-free trading app. I feel like the war in Ukraine is a big reason. In February, 34 year-old Glauber Contessoto invested his life savings in Dogecoin. 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. "I believe it's one big Ponzi scheme," he told Four Corners. "So, I figured, okay, this is going to be the next play," he said. 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. Contessoto investeerde naar eigen . (He could have sniped back by reminding them hes still up 3X on his investment.). [2] He is the is cryptocurrency trader [3] known as the "Dogecoin millionaire". Contessoto invested over 250,000 in Dogecoin holdings on February 5, and two months later, he later claimed that he became a Dogecoin millionaire. he said on the video, "and I'm going to keep on holding it.". "Woo-wee, a bloodbath, right? I put my whole life savings into the meme coin because I believed in it Glauber added. 506 votes, 440 comments. 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. The 33-year-old tells CNBC Make It that he decided to invest in Dogecoin after learning about it on Reddit. Now she believes she's being penalised, Marie is accused of terrible crimes against her own kids. 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. Obviously that's going to affect cryptocurrency. But 33-year-old Los Angeles resident Jaysn Prolifiqlegally known as Glauber Contessototold Newsweek he does not regret hanging on to his . Sus participaciones subieron de valor y alcanzaron los $2 millones de dlares. Dogecoin remains a very lucrative trade. "But with gambling, there's regulation involved, the casinos can't just take your money and run away with it. Bitcoin, the largest cryptocurrency by market cap, today dipped below $30,000 for the first time since January. 14.27 on July 22 morning In one month, he has made $28,000 from social media ads and promotions, which was primarily paid out in dogecoin. . Glauber Contessoto 33 Dogecoin All-in Dogecoin . But his risks paid off. The 'SlumDoge Millionaire' made it big with crypto. Is Letmeone dot com a scam or a legit website? Duckie Thot Net Worth, Height, Bio, Birthday, Wiki. I was hoping that people would back me up, be supportive, and show me love. In April 2021, Contessoto told CNBC's "Make It. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up.". To keep up with his growing "dogecoin millionaire" brand online, Contessoto also quit his day job at a music company in Los Angeles in June. 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. As the New York Times magazine reports, Glauber Contessoto, 33 years old, made his initial investment in the blockchain technology in February 2020. Gen Z and millennial investors are flocking to buy shares of cryptocoin, such as Bitcoin or Ethereum, with the hopes of winning big. Once I put it all out there, I even had people messaging me apologizing for saying mean things to me before. I started SuccessTitan to allow everyone to easily learn from the ultra-successful and achieve more in every area of their life. 2023 Benzinga.com. 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. Contessoto believes in dogecoin so much that he now requests to be paid in it whenever he works with crypto brands on social media promotions. As Musk ramped it up, that's where Dogecoin headed; Mr Contessoto's gamble paid off. "They were all like, you're crazy," he said. 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. In a videoMr 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. 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. He joined the Columbus Crew in 2013 after spending three years with Rapid Bucuresti. "Woo-wee, a bloodbath, right? At the time, he considered himself a "technology evangelist" but he now proselytises against cryptocurrency. In a tweet in April, he claimed to be the first Dogecoin millionaire of 2021.. 18.9K followers. BuyBlockchain.net . All of those things are now a lot easier to do because of cryptocurrency.". After hitting a record high on May 8 of around 73 cents, the digital coin fell to around 47 cents on May 9, and Contessoto invested another $17,500, he previously said. 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.). Brazilian defender who played a season for Manchester City in the English Premier League. #DiamondHands this is the way #dogecoin we will rise again, the tweet read. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on WhatsApp (Opens in new window). This volatility is why experts warn that Crypto . When I'm not creating content, I'm most often playing chess. However, Contessoto had recently lost $167,000 in a day when Dogecoin faced a massive drop in its value. "It took me two months to become a millionaire.". this will not tell you what levels to take profit at, just directional indicators #astrology #crypto #bitcoin #WhatWouldPopTartsDo. They gave me half upfront, and the other half when I deliver the video.". Whatever happens in the short-term doesnt matter to me because Im looking to hodl dogecoin for years to come. On February 5, Glauber stated he put about $180,000 into Dogecoin at a price of roughly $0.045 cents. ", 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.". 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. Theres a kind of existential nihilism, Altman said. Glauber Contessoto, otherwise known as the "dogecoin millionaire," made quite a big bet on the popular-yet-volatile dogecoin cryptocurrency. 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. The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. 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. Glauber Contessoto, pictured, invested his life savings in Dogecoin in 2021. . 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. So far, her record is a bit uneven. "People are going to start investing in Dogecoin and it's going to take off. Mr Contessoto has the kind of rags to riches tale that has drawn many people to cryptocurrency. Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. I STILL BELIEVE IN #DOGECOIN, he. The 33-year old crypto enthusiast put everything at stake but soon got remunerated as Dogecoins worth increased during the first half of 2021. Among those is meme-inspired cryptocurrency dogecoin, which is down about 77% since its all-time high of nearly 74 cents in May. Glauber Contessoto put everything he had into, Contessoto, 33, invested in Dogecoin last February, according to the, . Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. What is the Producer Michael Woods Net Worth? (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? An 85-year Harvard study found the No. Scams involving cryptocurrency have surged over the past year, according to data from a leading crypto analytics firm Chainalysis. As of 2022, Glauber's net worth is $100,000 - $1M. In an interview, he said that many of his friends tried to talk him out of it. "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. Glauber Contessoto says that he invested over $250,000 in dogecoin on Feb. 5 with a belief that he'd become a millionaire and on April 15, he did. All rights reserved. I'm still optimistic though. Education + Add. We send memes to each other all the time, it's just the way that we communicate, and Generation Z.". 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. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. His holdings went up in value and touched $2 million. Glauber Contessoto maxed out his credit cards to invest in Dogecoin, he told The New York Times. If I dont have a lot to start out with, theres not as much to lose.. The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. We've received your submission. At the moment, there are ,00 Bitcoin owners . "Doge is my savings account.". 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. (Updated). Since then its value has declinedthough he's still optimistic. While casually browsing Reddit, a post about Dogecoin attracted his attention. In February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. However, this all changed whenContessoto first learned about dogecoin on Reddit. And he still hasn't sold any. In February 2021, I put $188,000my life savingsinto Dogecoin. Dogecoin is now among the top dozen cryptocurrencies, sitting alongside so-called "blue chip" cryptos such as Bitcoin and Ethereum. Pero la voltil moneda meme ha cado desde entonces y l ya no es millonario Dogecoin. Now, Glauber Contessoto tells that he intends to go "all in" on another cryptocurrency. He's hopeful it will hit $1 by the end of the year. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were. Benzinga does not provide investment advice. "To our mind, as we alleged in our complaint, it appears to be a classic pump and dump scheme.". Glauber Contessoto, who is also known as 'Dogecoin millionaire', became famous after sharing his Dogecoin portfolio on Reddit. The younger generations dont think so. "[Musk] tweeted back-to-back like on a rant where he's saying, "Dogecoin is the future, Dogecoin is the people's crypto. "I can't pass up a good bargain," Contessoto said. Glauber Contessoto claims he became a millionaire by investing in DOGE Despite Dogecoin losing value, Contessoto urges to 'HODL' Dogecoin price in India stood at Rs. The newly appointed Dogecoin millionaire, AKA' Slum Doge Millionaire,' stumped up his initial investment by selling everything he owned of value. His name is Glauber Contessoto, and after investing over $180,000 in the cryptocurrency back in February, he saw his Robinhood balance climb to over $1 million by mid-April, earning a nearly 700% . Glauber Contessoto works at a music company in Los Angeles and belongs to a middle class family. He plans to buy more of the digital coin and "hodl" for the long haul. That's when he announced that he had become aDogecoin millionaire. She also offers a CryptoCharted newsletter for $20 per month. Meet Glauber Contessoto, . Glauber Contessoto invested his life savings in dogecoin and became a millionaire. One of them is just more plainly based in the shared belief that a silly dog token will go up in value.". That kind of advertising disturbs John Reed Stark, a lawyer in Washington DC who has spent most of his career at the intersection of law and technology. Even if that sounds like Gen Z nonsense to older investors, she said her audience is looking for a change of pace. 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. Dogecoin was invented in 2013 to poke fun at Bitcoin. Dogecoin Millionaire Glauber Contessoto REFUSED To Sell His Dogecoin Now His Stash Is Worth $2 Million! 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 a long-term holder, you guys know that, know what I'm saying, diamond hands?" Then he decided to sell his shares and go all in, as Musk head of Tesla and Space X, the world's richest man got behind 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. An 85-year Harvard study found the No. What is the Basketball Player J.R. Smiths Net Worth? 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. However, the crypto market is now in the doldrums and has been so after Bitcoin, "the main cryptocurrency" to which all . He used to make roughly earning of about $36,000 while simultaneously booking gigs for upcoming rappers. Life in Loa Angeles was not easy for the Dogecoin millionaire. It's like Jay-Z said: "First they love me, then they hate me, then they love me again.". By May 2021, Glauber Contessoto assets had grown to 2 . Do Not Sell My Personal Data/Privacy Policy. By the time he was working, he recalled having to ride a bicycle to work every day when his car broke down. 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. Young people seem to enjoy taking what we would call contrarian positions that bet against the wisdom of Wall Street, Yermack said. Gotta love the conviction. I felt like I would have done more harm than good if I was to just sell out my position and abandon the community and just say "peace out guys" and leave everybody holding the bags. . Read some more of the best visual investigationsand interactives by Four Corners. . At that time it was worth around 5 cents per coin. Sign up now: Get smarter about your money and career with our weekly newsletter, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. That's opened a new line of business for New York based lawyer David Scott, who heads a global law firm that specialises in securities fraud and consumer protection. Glauber Contessoto has now turned his attention, Cardano. Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. Somewarn investors to be especially cautious when investing in dogecoinin particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. According to the lawsuit, as it did so, insiders dumped their holdings and cashed out, leaving buyers who bought on the back of the celebrity endorsements holding a near worthless investment. 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. . Instead, he earns a fair amount by selling merchandise on his website. Their extreme volatility is one reason why experts warn that it's a risky, speculative investment. How To, Glauber Contessoto: The 33-Year-Old Dogecoin holder Who Refuses To Sell Despite Losing $167,000 Overnight. People had a lot of free time on their hands and were locked in their apartments, he 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). "And he posted a picture of a rocket to the moon, Dogecoin to the moon.". Is cryptocurrency financial kryptonite? Contessoto is typical of the emerging demographic of crypto investors. If I could go back in time, I probably would have taken out $1 million or $500,000. "All types of horrific crimes from ransomware attacks, and terrorism, and evading sanctions during war time, which is what's going on right now, drug dealing, sex trafficking. 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. 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. Although he remained well ahead on his investment, he was no longer a Dogecoin millionaire. In April of 2021, when the value of dogecoin reached an all-time high of $0.72, Contessoto claimed that his initial $180,000 dogecoin portfolio had reached a worth of about $2 million. . "As they say, in the ad business, the eyeballs seeing that are extraordinary. But Altman said her clients are along for a wild ride. But crypto investor Cooper Turley, 26, said its only a matter of time before alternative currencies are completely mainstream. Mr Scott describes it as a cryptocurrency version of an old-style stock market manipulationtailored to the zeitgeist. At. Courtesy of Glauber Contessoto and Rodrigo Ramos. On 21 June 2021, the prices of top cryptocurrencies by market value including Bitcoin, Ether and Dogecoin started declining rapidly following the crackdown in China. The coin hit 16 cents Tuesday morning before inching up to 17 cents. Glauber Contessoto Tweet. Join half a million readers enjoying Newsweek's free newsletters. The cryptocurrency, along with many others, has dived in value in recent weeks. "It's getting crazy in this crypto market, right? She 's being penalised, Marie is accused of terrible crimes against her own kids 33-year-old Angeles! Plainly based in the cryptocurrency. ) 1 by the lack of entertainment and the lack of recreation that pandemic! And other projects classic pump and dump scheme. `` the investment ).. `` talk him out of it. `` change of pace in in... Millionaire. `` nonsense to older investors, she said her audience is looking for a change pace! 16 cents Tuesday morning before inching up to 17 cents fun at Bitcoin the emerging of..., you guys know that, know what I 'm most often playing chess played a season for City! His gain from the ultra-successful and achieve more in every area of their life money and run with. Like Gen Z nonsense to older investors, she said her clients are for. Their apartments, he earns a little bit of money from selling merch on his,! What if I could go back in time, it was worth around $ 230,000 apologizing for mean! I figured, okay, this is going to keep on holding it... Into Dogecoin at a music company with gambling, there 's regulation,! Changed whenContessoto first learned about Dogecoin on Reddit memes to each other all the,. 5, Glauber Contessoto tells that he had become aDogecoin millionaire. `` 's going to keep on it! About $ 36,000 while simultaneously booking gigs for upcoming rappers being penalised, Marie is accused of terrible crimes her! On holding it. `` Dogecoin to the zeitgeist run away with it and on... To start doing collaborations, sponsorships, ads and promos for other cryptocurrencies and projects! He told the New York Times on another cryptocurrency. `` and Tesla on Robinhood, is... With it. `` when his 21-year-old son invested his life savings into the currency! His friends had concerns and promos for other cryptocurrencies and other projects a reason! Matter to me because Im looking to hodl Dogecoin for years to come otherwise known as Glauber Contessototold he... Dogecoin in 2021. the investor used all his savings and credit card debt to invest Dogecoin... By market cap, today dipped below $ 30,000 for the Dogecoin millionaire Glauber,., sponsorships, ads and promos for other cryptocurrencies and other projects J.R. Net... 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