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According to a tweet Contessoto published, the move comes in . Mr Scott describes it as a cryptocurrency version of an old-style stock market manipulationtailored to the zeitgeist. The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. 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. Glauber Contessoto, a music company employee plunged his entire $180,000 savings into Dogecoin in February. The Dogecoin Millionaire Finds A New Memecoin Gem, Says Its 'Marketing Is The Greatest' glauber contessoto twitter According to the Benzinga report, Contessoto feels. 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. "But with gambling, there's regulation involved, the casinos can't just take your money and run away with it. Yet now, his holdings are down over $167,000 and the portfolio was worth $831,538.88. As of around 12:00 p.m. EST on Tuesday, his dogecoin holdings are worth around $931,689. Blood in the streets, right?" he told his many online followers in a video. 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. 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). I've been passionate about self-development and always loved to read biographies. However, the crypto market is now in the doldrums and has been so after Bitcoin, "the main cryptocurrency" to which all . He said that young investors also appreciate that crypto feels a little bit renegade. That's when he announced that he had become aDogecoin millionaire. So I still feel like I was doing the right thing by holding. Contessoto earned notoriety in the Cryptocurrency community when he turned $180,000 into $3 million in 3 months. "You risk losing nearly all the money you put in," James Ledbetter, editor of fintech newsletter FIN andCNBC contributor, previously told CNBC Make It. "We thought it would last maybe three days," he said in a 2014 interview. Ms White has a soft spot for the Dogecoin, the satirical crypto that became mainstream. Glauber Contessoto, otherwise known as the "dogecoin millionaire," made quite a big bet on the popular-yet-volatile dogecoin cryptocurrency. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. After its boost, Dogecoins price kept on fluctuating, but Contessoto remained optimistic and was quite confident in holding for the long-term. Its rapid increase in popularity and value has made people like Contessoto rich. Source: TradingView.com. He told Insider that he believes cardano will be "blockchain 3.0" and is buying the ada token. But I feel like that would probably be the most cowardly move that I could ever make. The coin hit 16 cents Tuesday morning before inching up to 17 cents. A Division of NBC Universal. Since then its value has declinedthough he's still optimistic. 506 votes, 440 comments. Investorscould get burned, and in turn, should only invest what they can afford to lose. 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. Altman charges members $7.77 per month and offers courses ranging in price anywhere from $49 to $1,499. Glauber Contessoto 33 Dogecoin All-in Dogecoin . The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet meme. In just two months, it was reported that he had become a Dogecoin millionaire. 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. Courtesy Glauber Contessoto. Even in May, when the value of his holdings surpassed $2 million, he still didn't budge. I'm still optimistic though. All Rights Reserved. His portfolio was worth about $831k as of Tuesday 4.40pm EST. And Contessoto, who has tens of thousands of followers on Instagram and Twitter, today tweeted that his Doge investment stood at $764k. Glauber Contessoto maxed out his credit cards to invest in Dogecoin, he told The New York Times. Contessotto, who works in the music industry, claimed Elon Musk, the billionaire, was a major influence on his decision. When finalizing the deal, the company asked if he'd prefer to be paid in U.S. dollars or crypto. It's like Jay-Z said: "First they love me, then they hate me, then they love me again.". Dogecoin is now among the top dozen cryptocurrencies, sitting alongside so-called "blue chip" cryptos such as Bitcoin and Ethereum. On April 15th, it reached a new peak of about $0.45, bringing Contessoto's DOGE holdings to $1,081,441.29. In the end, the dogecoin millionaire aims to take only 10% off his portfolio once it reaches his targeted $10 million goal, leaving the rest to continue growing. MKR Price Prediction 2023, What Is Staking In Cryptocurrency? Whatever Happened To The Dogecoin Millionaire. We've received your submission. Last week, he bought over $5,300 worth of dogecoin when it was around 17 cents, he said. After days of research,Contessoto then poured all his savings into it, even resorting to borrowing money through margin investing. However, he still believes that things will turn out good for the cryptocurrency and refuses to give up his stocks. In the Philippines, it's becoming more common, Thirty-four balls and just 29 minutes: Here's how Australia's latest Test batting collapse unfolded, Motorway upgrades may have caused extra flooding for some Gold Coast homes, report says. A fight between Mayweather and US social media celebrity Logan Paul became a vehicle to lure in investors, who were offered rewards, including ringside seats and signed boxing gloves, for buying significant amounts of the cryptocurrency. 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.". Still, Contessoto's outlook on dogecoin remains extremely bullish. 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. Last month his holdings touched $2 million. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. "They're not all that different. The law firm has launched a multi-million-dollar class action against a schemethat used major celebrities including reality TV star Kim Kardashian and former world champion boxer Floyd Mayweather to promote a crypto token. Also, the site may contain affiliate links in some of the posts, and we may earn commission from the signups and sales. 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 . Recently, the dogecoin millionaire said in an interview "I should have sold some." Damn right, mate. But investor Glauber Contessoto, whose dogecoin holdings previously surpassed a value of $1 million, isn't worried. 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.". Contessoto 202140.72Contessoto18200 ""dogecoin millionaireContessoto16 Contessoto Contessoto"" "Day afterday after day, it was like, one scam, one day, two hacks the next day.". For us to get there, we have to all believe in the same thing. Would-be Dogecoin millionaire Glauber Contessoto is convinced that DOGE is a HODL even after the crypto token's price crashed further this week. Read some more of the best visual investigationsand interactives by Four Corners. She had considered crypto and the blockchain technology on which it's built of marginal interest, until she noticed, and began to chronicle, the number of scams, hacks and frauds being perpetratedin the crypto sphere. 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. Yesterday, he announced to the Reddit community that he is now a Crypto millionaire. Scams involving cryptocurrency have surged over the past year, according to data from a leading crypto analytics firm Chainalysis. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were. "Hey guys I just became a Dogecoin millionaire," he wrote on Redditand attached a screenshot of his holdings on Robinhood. 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. All Rights Reserved. The New York City resident and NYU grad has 1 million followers on TikTok where she claims to use the planets to predict major crypto market changes. While I'm still up on my initial investment, what I do regret is not taking out some of the profit as cash. Benzinga does not provide investment advice. Glauber Contessoto, 33, invested all of his funds into dogecoin, a meme-inspired cryptocurrency that has seen a significant increase in value this year. Life in Loa Angeles was not easy for the Dogecoin millionaire. . Some experts have even, Though for thrill-seeking traders like Contessoto, its all part of the game. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up.". In February 2021, I put $188,000my life savingsinto Dogecoin. He said VeVe is "full of officially licensed NFTs from some of the biggest legacy brands in the game from Disney, Marvel, Universal and even Cartoon Network. Cryptocurrency which is a type of digital file that can be used as money, based on blockchain technology is not controlled by any centralized entity or government, and is nearly impossible to trace. In fact, even as Bitcoins hype remains to grow and people keep investing, many personalities think its a bubble, and not something to invest in. All of those things are now a lot easier to do because of cryptocurrency.". On April 15, Glauber Contessoto, a 33-year-old Los Angeles native, claimed to be a Dogecoin millionaire. 10 Best Scholarships for College Students in December 2022, USA Health Insurance System: A Guide for Study Abroad Students, University of Colorado Denver Scholarships In USA Apply Now for Fully Funded, American MBBS: Entry Requirements, Fees, and Programs Offering Free Tuition, Canada, University of Waterloo Scholarship (Value and Eligibility), Best Automatic Mouse Mover 2023 (Ranked and Reviewed), How To Face Swap on Davinci Resolve Software, Donovan Mitchell: Superstar Helping Cleveland Cavaliers To Shine This Season, Who is Islam Makhachev wife? Maren Altman, 22, has reached full-blown influencer status by billing herself as a crypto astrologist.. Contessoto says everybody's stomach gets a little queasy when they experience their first dip because the crypto market is volatile and it will probably drop in price no matter when you buy in. It was a meme-fueled cryptocurrency that rose in value in the first half of 2021. Courtesy of Glauber Contessoto and Rodrigo Ramos. Glauber Contessoto put all his money into Dogecoin. 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. Glauber Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk's tweets caused prices to soar. In the same video, he also revealed he's holding about 3.9 million units of dogecoinworth over $550,000. Contessoto, who works at a Los Angeles hip-hop media company, according to the NYT, said in his tweet that he will continue to HODL (a purposeful misspelling of hold). 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. "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.". Do Not Sell My Personal Data/Privacy Policy. After the major currencies hit all-time highs in May a single Bitcoin peaked at around $65,000 theyve been dropping rapidly, with a Bitcoin now worth less than half that. Reddit threads, YouTubers and Twitter accounts accumulate hundreds of thousands of followers searching for crypto tips. ", "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. [2] He is the is cryptocurrency trader [3] known as the "Dogecoin millionaire". In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. Mr Contessoto initially backed his hunch about Dogecoin with a small investment. He claims to have become a dogecoin millionaire on paper two months later, in April. "Obviously, it helped that Elon Musk was also a fan of Dogecoin.". 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.. I personally believe that next time we have an incredible market high, Bitcoin is going to hit $100,000 and Dogecoin will hit a dollar. Glauber Contessoto's dogecoin holdings on Robinhood as of around 12:00 p.m. EST on Tuesday, July 6. ", Investors are mounting big bets against these 2 A.I. Is Testerbuzz.com amazon product tester a scam or legit? As a teenager, he developed a strong liking for hip-hop music and decided to pursue his career in this direction after school. In fact, his destiny changed the previous night and it might have taken a day or two for him to. In reality, crypto prices dropped. The younger generations dont think so. Hoje, tem US$ 2 milhes. 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. DOGE millionaire Glauber Contessoto shared that he had continuously lost money when the market fell and significantly when the Dogecoin price dropped to $0.2155. . Yermack believes the pandemic only accelerated this trend. By May 2021, Glauber Contessoto assets had grown to 2 . Now, she works with people in the crypto space to launch their own business endeavors and guides them on how to invest. Follow. Glauber Contessoto puso todo lo que tena en Dogecoin, una criptomoneda muy voltil que se invent originalmente como una broma. Losing A 6-Figure Sum In Dogecoin Worth Within 24 Hours. However, he went ahead with it and, on the 5th of February, invested a considerable chunk in Dogecoin holdings. That was worth more than $7,000 at the time I interviewed them together. Between hissavings and borrowed funds, Contessoto said, heinvested over $250,000 in dogecoinon Feb. 5 when it was priced at about 4.5 cents. In July, Contessoto said he bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakhs). I feel like when the next cryptocurrency bull run happens, everyone will have a cryptocurrency wallet ready. Glauber Contessoto, 34, lives in Las Vegas, Nevada. I enjoy writing about sports news, business, scholarship programs, and movies, among other topics. The value of his holdings climbed to $2 million. All information mentioned in our website is for informational and educational purposes only. "With cryptocurrency, there's really no reason that people need to tell you the risk involved or the odds that you make money and oftentimes people will just totally make off with your cryptocurrency and there's nothing you can do about it.

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