A young investor shared his story online and explained how he became a crypto millionaire in just over two months, after learning about the cryptocurrency meme and investing all his savings. He said he was inspired by Elon Musk's tweets about the dogecoin.
Here is the story of the new millionaire thanks to Doge
Glauber Contessoto, a 33-year-old who works for a Los Angeles music company, shared his story online and explained how he became a millionaire in just over two months.
He invested over $ 180.000 in Dogecoin on February 5th, at the time of his quotation it was about 4,5 cents. He learned about the cryptocurrency meme on Reddit and was inspired by Tesla technoking Elon Musk who tweeted about DOGE on several occasions.
Contessoto explained that he was attracted to dogecoin for a few reasons. In addition to loving the Reddit community surrounding dogecoin, he said he appreciates the fact that the cryptography was inspired by the Shiba Inu meme "Doge". He is also very optimistic about the growth of the currency, as he believes it could help him build "generational wealth" to pass on to his future family. “I grew up very poor, so this is a huge deal for me,” he said.
Also, like many dogecoin owners, he said: "One reason I put my savings into dogecoin is Elon Musk… I think the boy is a genius."
To invest in DOGE, Contessoto sold all the shares he owned, including shares in Tesla and Uber, and poured all his savings into cryptocurrency. He then invested on margin by borrowing money from Robinhood via the app.
Certainly a risky operation
Contessoto took a big risk, investing all his savings and holding on to cryptocurrency despite warnings from his friends, one of whom warned: “Dude, it's a pump-and-dump scheme. In the end it will go back to zero ”.
About two months later, on the night of April 15, the price of the dogecoin began to rise. It then increased by 400% and reached a market capitalization of $ 49 billion on April 16. Dogecoin finally reached a record high of around 45 cents. Contessoto's April 16 balance on Robinhood was $ 1.081.441,29, which he showed on Reddit for others to see.
Insisting that he does not intend to sell his dogecoins anytime soon, he said, “My plan is that once I reach $ 10 million, I will take 10% of it. This stuff will continue to grow ”.
Dogecoin's price is currently $ 0,28 based on online data. Despite the recent price drop, Contessoto said its DOGE balance is still over $ XNUMX million. What do you think of the history of this investor? Do you have similar stories to tell? Let us know in the comments section below.
