The Los Angeles resident reportedly exhausted all of his personal savings on dogecoin, according to Newsweek. According to his own account, Mr Contessoto grew up poor in a family that emigrated to the United States from Brazil and was determined to make money. A young Australian tech marketer, Jackson Palmer, co-founded it to mock and satirise the hype about crypto. Meet Glauber Contessoto, . 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. Cryptocurrency gained traction with the emergence of Bitcoin 12 years ago, and has since grown to include more than 10,000 types of coins. Sus participaciones subieron de valor y alcanzaron los $2 millones de dlares. Glauber Contessoto has now turned his attention, Cardano. stocks, Salesforce results give CEO Benioff breathing room', Fast Money trader Steve Grasso said, Is ChatGPT the tip of the iceberg? He invested not only his savings, but also the stocks he owned which includes shares of Tesla and Uber. 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). "That's about six months salary at my old job," Contessoto says. He no longer works at the music company in Los Angeles. Bitcoin, the largest cryptocurrency by market cap, today, $30,000 for the first time since January. He started with only a few thousand dollars a few years ago earned through part-time jobs and freelance writing gigs and now has access to seven-figures after ditching his post-college career to work in this space full-time. As a teenager, he developed a strong liking for hip-hop music and decided to pursue his career in this direction after school. About two months later, on April 15, he says he became a dogecoin millionaire on paper. All of those things are now a lot easier to do because of cryptocurrency.". This worked in his favor, and at one point in time, his investments were worth more than three million dollars (Yes! marenaltman/Instagram, Courtesy of Cooper Turley, 2023 NYP Holdings, Inc. All Rights Reserved, FTXs NishadSingh pleads guilty to fraud, conspiracy charges, Alexis Ohanian used $50M crypto windfall to buy Serena Williams 17-carat engagement ring, SBFssprawling alleged campaign finance scheme detailed in new indictment, Sam Bankman-Fried reportedly caught napping during flight to NYC court hearing, Oh No, Oh No, Oh No No No Song Tiktok Remix Tik tok. he told his many online followers in a video. Glauber Contessoto became a crypto millionaire by buying Dogecoin. 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. Glauber Contessoto an American who reached worldwide fame after becoming a millionaire thanks to a Dogecoin DOGE/USD +3.50% + Free Alerts bet has exclusively shared his next big bet with. Glauber Contessoto Instagram (IG) is @prothedoge. Courtesy Glauber Contessoto. "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. The leading community for cryptocurrency news, discussion, and analysis. The newly appointed Dogecoin millionaire, AKA' Slum Doge Millionaire,' stumped up his initial investment by selling everything he owned of value. "It felt like people were being just taken for a ride," she said. Contessoto said that there were three main reasons why he decided to invest in Dogecoin: (1) he loved the Dogecoin community on Reddit; (2) he liked the "Shiba Inu" meme; and (3) Elon Musk's Dogecoin advocacy. The biggest blessing from all this is the online community I've built. Would-be Dogecoin millionaire Glauber Contessoto is convinced that DOGE is a HODL even after the crypto token's price crashed further this week. He earns a little bit of money from selling merch on his website, but his main focus is developing his social media presence. "Up until yesterday, I had been a millionaire, if bitcoin and ethereum weren't also [hit], I'd be worried." -Glauber Contessoto, 33 Cincoin abre as portas para uma nova era de incluso social digital iniciando a formao da sua comunidade financeira compartilhando informao e distribu. When finalizing the deal, the company asked if he'd prefer to be paid in U.S. dollars or crypto. 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. "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.". 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. He worked twice his strength to have a place of his own. Hes convinced that the next corporate juggernauts the future Apples and Googles of the world are going to be crypto-based, with younger leaders spearheading new ways to reach potential consumers. Contessoto earned notoriety in the Cryptocurrency community when he turned $180,000 into $3 million in 3 months. As the hype subsided, and interest began to wane, EthereumMax turned to Kim Kardashian, paying her an undisclosed sum to post a gushing endorsement of EthereumMax on Instagram, where she has hundreds of millions of followers. But, "if it drops below 20 cents next week, I'll buy the dip again," Contessoto says. "Doge is my savings account.". Glauber Contessoto said that he became a dogecoin millionaire on April 15, 2021. (He could have sniped back by reminding them hes still up 3X on his investment.). "But with gambling, there's regulation involved, the casinos can't just take your money and run away with it. This volatility is why experts warn that Crypto . But the volatile meme coin has since dippedand hes no longer a Dogecoin millionaire. He's hopeful it will hit $1 by the end of the year. 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. Is Letmeone dot com a scam or a legit website? The irony of all this is that Dogecoin was meant to be a joke. 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. "So, they literally paid me in dogecoin. "We thought it would last maybe three days," he said in a 2014 interview. They thought he was risking too much by investing in this joke coin. Since, Contessoto has refused to sell, despite dogecoin's ups and downs. At the Superbowl, the championship playoff of America's National Football League, hyper-expensive television advertising slots were taken up by rival cryptocurrency exchanges using celebrities to encourage people to dive in. #DiamondHands this is the way #dogecoin we will rise again, the tweet read. However, the "dogecoin millionaire" moniker was a short-lived one, as dogecoin dropped significantly the following month, with Contessoto's portfolio suffering from over $160,000 in losses in a single day at one point (via NBC). From The Press. The housing market is likely another; I feel like we're in a bubble with that. 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. 506 votes, 440 comments. At current rates, Contessoto is still ahead in terms of net worth. In reality, crypto prices dropped. I can't sit here saying "I'm gonna hold forever" and then bail as soon as it gets a little tight. Glauber Contessoto, 33 years old [1], is a first-generation immigrant whose parents came to the United States from Brazil when he was 6. Glauber Contessoto him Get all the top stories from Crypto Bulls Club to keep track. Turley, who lives in Los Angeles and works in crypto strategy at a streaming app, claims hes made millions in the crypto market. The developers behind the coin wanted to make a silly cryptocurrency with no real valueand even based its image on a popular internet. "I'm a long-term holder, you guys know that, know what I'm saying, diamond hands?" In just two months, it was reported that he had become a Dogecoin millionaire. Maren Altman, 22, has reached full-blown influencer status by billing herself as a crypto astrologist.. Glauber Contessoto Tweet. Tank Davis Net Worth 2023: How Much Does Tank Davis Make? 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.. 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. Contessoto told CNBC that he grew up poor and that his gain from the meme currency was a huge deal for him. In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. In the same video, he also revealed he's holding about 3.9 million units of dogecoinworth over $550,000. Ms White is concerned about the way cryptocurrency is being marketed to people who are neither tech savvy nor sophisticated investors able to understand the risks they're exposed to. Soon, it was announced that he had become a millionaire. Instead, he earns a fair amount by selling merchandise on his website. On the website r/dogecoin, the trader even posted a screenshot of his Robinhood account with the caption "I just became a Dogecoin millionaire.". In February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. However, he was familiar with cryptocurrency but was highly fascinated with its marketing strategy. Though he isn't a financial expert, he's optimistic that dogecoin has already hit bottom. Nonetheless, Contessoto's plan remains the same: "Once I hit $10 million, then I'll take out 10%. 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% . Their extreme volatility is one reason why experts warn that it's a risky, speculative investment. Analysts reveal potential A.I. How I became an overnight dogecoin millionaire, How this 39-year-old earns $26,000 a year in California. All Rights Reserved. I started SuccessTitan to allow everyone to easily learn from the ultra-successful and achieve more in every area of their life. "It has no underlying intrinsic value. From Formula One to football, there is hardly a sporting code these days that's not sponsored by the cryptocurrency industry. 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. All Rights Reserved. Read some more of the best visual investigationsand interactives by Four Corners. BuyBlockchain.net . , said in his tweet that he will continue to HODL (a purposeful misspelling of hold). 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. He flew to the United States at the age of 6 with his family and resided in Suburban, Maryland. Status by billing herself as a video editor at a music company in Los resident! 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