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. And somewarn to be especially cautious when investing in dogecoin in particular, since itlacks the scarcity and technological developmentthat bitcoin has, for example. This uncertainty is, however, one of the major reasons why experts alert that cryptocurrency is a risky and speculative investment. "I see Dogecoin as more honest about what it actually is," she said. 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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. Amid the rout, Mr Contessoto was counting the cost. He no longer works at the music company in Los Angeles. Glauber Contessoto, who is also known as 'Dogecoin millionaire', became famous after sharing his Dogecoin portfolio on Reddit. Glauber Contessoto put everything he had into Dogecoin, a highly volatile cryptocurrency that was originally invented as a joke. "Until I reach my goal, I'll continue to buy, hold and 'diamond hand' it. She accurately predicted Januarys market correction, but then wrongly foresaw a bull market in May. Also, I had gone out and preached about those coins being the future. 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. It's getting sweaty in here; you know what I'm saying?". Yesterday, he announced to the Reddit community that he is now a Crypto millionaire. Contessoto 202140.72Contessoto18200 ""dogecoin millionaireContessoto16 Contessoto Contessoto"" "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.". The housing market is likely another; I feel like we're in a bubble with that. He took a massive risk by investing all of his lifes savings in a cryptocurrency initially known as meme coin. 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. Some experts have even said that we are now entering a bear market. 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. "As the chairman of the SEC stated, it's the wild west, and it's the wild west because it is unregulated," he said, "and because of that lack of regulation, there are many opportunities for people to lose their money.". Home / Loyalty / Glauber contessoto net worth. However, Contessoto had recently lost $167,000 in a day when Dogecoin faced a massive drop in its value. he told his many online followers in a video. Glauber Contessoto, 34, lives in Las Vegas, Nevada. Everyone Practices Cancel Culture | Opinion, Deplatforming Free Speech is Dangerous | Opinion. On February 5, Glauber stated he put about $180,000 into Dogecoin at a price of roughly $0.045 cents. Glauber's personal network of family, friends, associates & neighbors include Mun Chong, Gail George, . 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.). 5.8M subscribers in the CryptoCurrency community. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), abc.net.au/news/cryptocurrency-four-corners-investigation/101092486, Get breaking news alerts directly to your phone with our app, Help keep family & friends informed by sharing this article. Of course, what further strengthened his decision was his belief in known dogecoin investor Elon Musk, who he thinks is "a genius. I'm still optimistic though. Would-be Dogecoin millionaire Glauber Contessoto is convinced that DOGE is a HODL even after the crypto token's price crashed further this week. So, I think when you couple that with this new sexy cryptocurrency buzz, the celebrity promoting it, the social media reach, boy, it's a deadly combination.". MKR Price Prediction 2023, What Is Staking In Cryptocurrency? Some experts have even, Though for thrill-seeking traders like Contessoto, its all part of the game. Mr Contessoto initially backed his hunch about Dogecoin with a small investment. Tank Davis Net Worth 2023: How Much Does Tank Davis Make? I STILL BELIEVE IN #DOGECOIN, he said on Twitter. Glauber Contessoto, who also goes by Pro The Doge or the doge millionaire, financed around 250,000 Dogecoin assets. On April 15th, it reached a new peak of about $0.45, bringing Contessoto's DOGE holdings to $1,081,441.29. Glauber Contessoto is a crypto trader who rose to fame as a Dogecoin millionaire. While the overall worth of his dogecoin investment certainly took a beating during the crypto crash that followed months later, Contessoto claimed that, even if dogecoin continued to drop, he didn't regret holding onto his meme-inspired cryptocurrency, believing its value will only grow in the long term. Thanks for contacting us. He believes the top 5 cryptocurrencies in five years will be Dogecoin, Ethereum, Bitcoin, Cardano, and Ripple - in that order. 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. "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. 14.27 on July 22 morning That's when he announced that he had become aDogecoin millionaire. Im truly not worried at the end of the day.. 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. Dogecoin has built a strong community over the years, and its lightheartedness made it the perfect fit for the meme . This makes it more volatile than the stock market, which experts say is part of the appeal for up-and-coming investors who dont have to worry about, say, saving for retirement any time soon. Glauber Contessoto, 34, lives in Las Vegas, Nevada. (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? (Full Story) By. It was at once a show of faith and a marketing strategy. HONEST review, Boughloaf.com treadmill & other products are scams: HONEST review. Join the tribe of 1000+ members now. Turley, who lives in Los Angeles and works in crypto strategy at a streaming app, claims hes made millions in the crypto market. 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 took a big risk on dogecoin, a meme-inspired cryptocurrency that began as a joke, earlier this year. Glauber Contessoto twitter is @ProTheDoge. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. Doge rally was nearing its peak earlier this year when Contessoto had posted to the Dogecoin subreddit, which earned him the title of Dogecoin millionaire. Glass Onion: Whats the Pisceshite Island? I feel like the war in Ukraine is a big reason. Mr Stark believes that regulation has been too slow, and this could result in another financial crisis "that could be even worse than the crisis in 2008.". 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 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. "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor, previously told CNBC Make It. "I can't pass up a good bargain," Contessoto said. Contessoto told CNBC that he grew up poor and that his gain from the meme currency was a huge deal for him. "I'm a long-term holder, you guys know that, know what I'm saying, diamond hands?" He said that he strongly believed in Dogecoins potential and that it could help him build wealth to pass on to his family. At. He worked twice his strength to have a place of his own. A rash . 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. I've been passionate about self-development and always loved to read biographies. Investorscould get burned, so they should invest only what they can afford to lose. "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. This abandoned high school was converted into a 31-unit apartment building, previously surpassed a value of $1 million, warn investors to be especially cautious when investing in dogecoin, lacks the scarcity and technological development. As a teenager, he developed a strong liking for hip-hop music and decided to pursue his career in this direction after school. 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According to CoinMarketCap, Dogecoin is at the moment trading at around $0.2191, with a market value of over $28 billion. "You just gotta zoom out and chill," Contessoto, 33, told CNBC Make It. 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% . Some say cryptocurrency is the future of money, and the technology it's built on is destined to revolutionise the internet and the society. The newly appointed Dogecoin millionaire, AKA' Slum Doge Millionaire,' stumped up his initial investment by selling everything he owned of value. Between hissavings and borrowed funds, Contessoto said, heinvested over $250,000 in dogecoinon Feb. 5 when it was priced at about 4.5 cents. Recently, the dogecoin millionaire said in an interview "I should have sold some." Damn right, mate. A photo shows a visual representation of a Dogecoin token, taken in January, 2021, in Katwijk, Netherlands. I'd be sitting at a profit, and I would be able to just see where the market goes before investing again. In a tweet in April, he claimed to be the first Dogecoin millionaire 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. However, he is looking forward to growing his brand online. But I'm still trying to make money, I still need to make a living. Glauber Contessoto said that he became a dogecoin millionaire on April 15, 2021. However, this all changed whenContessoto first learned about dogecoin on Reddit. Its rapid increase in popularity and value has made people like Contessoto rich. . In just two months, it was reported that he had become a Dogecoin millionaire. They are expected to actually play a game, and the odds should be about what they say they are. 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. In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. Contessoto, who works in a music company, refuses to sell his investment in dogecoin despite losing $167,000 in one day. admin - May 27, 2021 . "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor,previously toldCNBC Make It. About two months later, on April 15, he said, hebecame a dogecoin millionaireon paper. In an interview, he said that many of his friends tried to talk him out of it. Een 33-jarige inwoner van de Amerikaanse stad Los Angeles, Glauber Contessoto, zegt dat hij op 15 april miljonair is geworden door te beleggen in de dogecoin. He now has more than $800,000 in Doge. IF I CAN HODL YOU CAN HODL!!! . 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.. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. "So, they literally paid me in dogecoin. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. In July, Contessoto said he bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakhs). Glauber Contessoto became a crypto millionaire by buying Dogecoin. 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. About two months later, on April 15, he says he became a dogecoin millionaire on paper. We know that Glauber is single at this point. In the following weeks, it went to $2 million, then close to $3 million. Glauber Contessoto Tweet. No matter who you are, if you bought cryptocurrency in 2021, the chances are you're down right now. Hoje, tem US$ 2 milhes. Meet Glauber Contessoto, . Dogecoin is trading at around 23 cents as of 4:00 p.m. EST on Tuesday, according to CoinMarketCap. 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. 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. Yermack believes the pandemic only accelerated this trend. Hey guys I just became a Dogecoin millionaire, he wrote on Reddit and attached a screenshot of his holdings on Robinhood. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet meme. While Dogecoin, Turley said, might look idiotic on paper as a meme stock stocks that are bolstered by social media and Reddit he said that crypto ultimately boils down to sharing investments with a passionate community. People had a lot of free time on their hands and were locked in their apartments, he said. On April 15, Glauber Contessoto, a 33-year-old Los Angeles native, claimed to be a Dogecoin millionaire. The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. . 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. Yet now, his holdings are down over $167,000 and the portfolio was worth $831,538.88. Whats Quick card san diego charge on credit card? "People are going to start investing in Dogecoin and it's going to take off. Theres a kind of existential nihilism, Altman said. 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Meet Glauber Contessoto, a man who invested $250,000 in Dogecoin on 5 February 2021 with a belief that he would become a millionaire and on 15 April, he did. Your email address will not be published. A young Australian tech marketer, Jackson Palmer, co-founded it to mock and satirise the hype about crypto. He is known on YouTube as The Dogecoin Millionaire and he is known on Instagram as @ProTheDoge. In a tweet, Contessoto celebrated his one-year anniversary since becoming a millionaire albeit momentarily and insisted that he's "just getting started.". ", 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.". Glauber Contessoto's dogecoin holdings on Robinhood as of around 12:00 p.m. EST on Tuesday, July 6. While Contessoto is not bothered, experts suggest exercising care with dogecoin,advising only to invest as much as you can handle losing. Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. Life in Loa Angeles was not easy for the Dogecoin millionaire. 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. Since then I have kept every single coin. Required fields are marked *. He became a prominent figure in the cryptocurrency community in 2021 after he became a millionaire by investing his life savings in Dogecoin.. Glauber Contessoto, a Dogecoin investor famous for investing his $250,000 life savings in the meme-inspired cryptocurrency in early February to become a millionaire, is doubling down on his bet In the meme-inspired cryptocurrency by investing an additional $25,000 in it. In February, 34 year-old Glauber Contessoto invested his life savings in Dogecoin. That changed somewhat when I decided to start doing collaborations, sponsorships, ads and promos for other cryptocurrencies and other projects. About his decision to hold, he explained that people do not have the tolerance to observe the investment to the maximum extent, and only focus on the short-term. Blood in the streets, right?" So in 2019, he started investing in renowned companies like Uber and Tesla on Robinhood, which is a commission-free trading app. He used to make roughly earning of about $36,000 while simultaneously booking gigs for upcoming rappers. 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. Mr Scott describes it as a cryptocurrency version of an old-style stock market manipulationtailored to the zeitgeist. Last month his holdings touched $2 million. But Altman said her clients are along for a wild ride. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up. For us to get there, we have to all believe in the same thing. 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. Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. 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. 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 I became an overnight dogecoin millionaire, How this 39-year-old earns $26,000 a year in California. 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. The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. All rights reserved. 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. Glauber Contessoto puso todo lo que tena en Dogecoin, una criptomoneda muy voltil que se invent originalmente como una broma. 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. They gave me half upfront, and the other half when I deliver the video.". Mr Stark is also concerned is that cryptocurrency is facilitating crime. "I call it the language of the millennials, memes. 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. Please DYOR before investing. "I had no idea how I was going to make money moving forward," he says. Contessoto is typical of the emerging demographic of crypto investors. He said that young investors also appreciate that crypto feels a little bit renegade. He has 11k followers at the time of writing this report. 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. The 33-year old crypto enthusiast put everything at stake but soon got remunerated as Dogecoins worth increased during the first half of 2021. Obviously that's going to affect cryptocurrency. Contessoto was intrigued by dogecoin for a few reasons. 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. Sooner than expected, Glauber Contessoto became a Dogecoin millionaire in just 69 days according to his Tweet on April 16, saying . I had a lot of learning to catch up on; the theory, the utility, understanding what blockchain technology is all about. "As they say, in the ad business, the eyeballs seeing that are extraordinary. 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. Up until yesterday, I had been a millionaire, if bitcoin and ethereum werent also [hit], Id be worried.. And Contessoto, who has tens of thousands of followers on Instagram and Twitter, today tweeted that his Doge investment stood at $764k. The majority are under 35, and theyre overwhelmingly male, according to Yermack. Glauber Contessoto, 33, invested over $250,000 in dogecoin in February. After it's surge, Dogecoin continued to fluctuate, but Contessoto remained confident in holding for the long term he even bought more Dogecoin during the dips. Though for thrill-seeking traders like Contessoto, its all part of the game. 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. 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. The cryptocurrency, along with many others, has dived in value in recent weeks. 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Palmer, co-founded it to mock and satirise the hype about crypto as @ ProTheDoge $ 36,000 simultaneously. Is not bothered, experts suggest exercising care with Dogecoin, advising to! Before investing again the zeitgeist other cryptocurrencies and other projects put everything he had Dogecoin... Was originally invented as a video. `` 0.045 cents satirise the hype about crypto are you 're down now. My goal, I had gone out and preached about those coins being the.! To buy, hold and 'diamond hand ' it first Dogecoin millionaire honest! To soar same thing to talk him out of it, mr Contessoto was intrigued Dogecoin. Was a huge deal for him you know what I 'm still trying to make silly! Dived in value in recent weeks a video editor at a profit, and the odds should about! His savings and credit card debt to invest $ 250,000 in the ad business, the chances are you down! Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk & # x27 ; s tweets prices. 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