However, he went ahead with it and, on the 5th of February, invested a considerable chunk in Dogecoin holdings. I think the guy is a genius, Contessoto said of Musk in aCNBC interview. he said on the video, "and I'm going to keep on holding it.". I've already decided that whatever happens, happens. 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. Glauber Contessoto is a crypto trader who rose to fame as a Dogecoin millionaire. BuyBlockchain.net . After days of research,Contessoto then poured all his savings into it, even resorting to borrowing money through margin investing. He became a prominent figure in the cryptocurrency community in 2021 after he became a millionaire by investing his life savings in Dogecoin. Among those is meme-inspired cryptocurrency dogecoin, which is down about 77% since its all-time high of nearly 74 cents in May. His net worth continued escalating as Dogecoin grew, eventually hitting a 300% rise in its value in April. When I'm not creating content, I'm most often playing chess. Dogecoin is now among the top dozen cryptocurrencies, sitting alongside so-called "blue chip" cryptos such as Bitcoin and Ethereum. 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. When . When I went into this dogecoin investment, I planned on being in it for at least a year, I put in my life savings because I knew I would eventually become a millionaire, said Glauber. Contessoto, who works in a music company, refuses to sell his investment in dogecoin despite losing $167,000 in one day. 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). He currently resides in Brazil. 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. Contessoto is typical of the emerging demographic of crypto investors. A Division of NBC Universal. It's getting sweaty in here; you know what I'm saying?". Meanwhile, however, the entire crypto market is suffering at the moment. Contessoto told CNBC that he grew up poor and that his gain from the meme currency was a huge deal for him. Follow. People had a lot of free time on their hands and were locked in their apartments, he said. The housing market is likely another; I feel like we're in a bubble with that. "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.". Still, Contessoto's outlook on dogecoin remains extremely bullish. Musk has always been there to boost the currency's reputation and talk about it on Twitter, and this caused Contessoto to look at the currency and invest more than $180,000 into it. This volatility is why experts warn that Crypto . "I call it the language of the millennials, memes. We're also seeing murmurs of a recession coming up soon. Between his savings and borrowed funds, Contessoto says that heinvested over $250,000 in dogecoinon February 5 when it was priced at about 4.5 cents. I can't sit here saying "I'm gonna hold forever" and then bail as soon as it gets a little tight. ", "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. 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. 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. "Hey guys I just became a Dogecoin millionaire," he wrote on Redditand attached a screenshot of his holdings on Robinhood. Mr. Contessoto, legally named Jaysn Prolifiq, was born in Brazil. Maren Altman, 22, has reached full-blown influencer status by billing herself as a crypto astrologist.. 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. He invested not only his savings, but also the stocks he owned which includes shares of Tesla and Uber. No matter who you are, if you bought cryptocurrency in 2021, the chances are you're down right now. 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. She accurately predicted Januarys market correction, but then wrongly foresaw a bull market in May. 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. In a tweet in April, he claimed to be the "first Dogecoin millionaire of 2021." The majority are under 35, and theyre overwhelmingly male, according to Yermack. For us to get there, we have to all believe in the same thing. 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. Since then I have kept every single coin. The irony of all this is that Dogecoin was meant to be a joke. "It has no intrinsic value and it could just as easily come crashing down in price as continue to go up.". In his YouTube video, he stated that Elon Musk held nearly a third of all Dogecoins in circulation. "So, they literally paid me in dogecoin. 5.8M subscribers in the CryptoCurrency community. But, "if it drops below 20 cents next week, I'll buy the dip again," Contessoto says. At the time, he considered himself a "technology evangelist" but he now proselytises against cryptocurrency. His fortune is now vanishing but he's all in, Follow the action from the third Test between India and Australia in Delhi in our live blog. (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? 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. 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. Last month his holdings touched $2 million. But what if I tell you that Mr. Glauber Contessoto did just that without taking into account the risks associated with the investment. So I still feel like I was doing the right thing by holding. In February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. Bitcoin, the largest cryptocurrency by market cap, today, $30,000 for the first time since January. "As they say, in the ad business, the eyeballs seeing that are extraordinary. The leading community for cryptocurrency news, discussion, and analysis. "And he posted a picture of a rocket to the moon, Dogecoin to the moon.". Glauber Contessoto invested his life savings in dogecoin and became a millionaire. After its boost, Dogecoins price kept on fluctuating, but Contessoto remained optimistic and was quite confident in holding for the long-term. I went on CNBC, I went to The New York Times, and I said that I wasn't going to sell a single coin. I feel like when the next cryptocurrency bull run happens, everyone will have a cryptocurrency wallet ready. However, financial experts are highlyskeptical of dogecoin, as well as other cryptocurrencies. Their extreme volatility is one reason experts say that crypto is a risky, speculative investment. Whats really exciting about crypto is that for the first time in history, we can place a financial value on social capital.. I'm still optimistic though. 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. [2] He is the is cryptocurrency trader [3] known as the "Dogecoin millionaire". He believes in his dog god and no one can tell him otherwise. 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. Your email address will not be published. Cryptobullsclub is a trusted Indian crypto community followed by crypto traders and investors all over the world. Since then, Contessoto hasrefused to sell, despite dogecoin'sups and downs. . Please learn about the complete disclosure here: Disclosure. 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. "Of course, I said dogecoin," he says. He is known on YouTube as The Dogecoin Millionaire and he is known on Instagram as @ProTheDoge. Courtesy Glauber Contessoto. Glauber Contessoto, 33 years old [1], is a first-generation immigrant whose parents came to the United States from Brazil when he was 6. Cryptocurrency gained traction with the emergence of Bitcoin 12 years ago, and has since grown to include more than 10,000 types of coins. 18.9k Followers, 120 Following, 82 Posts - See Instagram photos and videos from Glauber Contessoto (@prothedoge) prothedoge. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were. Then I started getting a lot of hate. The way that their parents built money in a tried and true way, maybe through investment index funds or savings accounts with a low percent APY, is a joke to live off of in a way, Altman said. Is cryptocurrency financial kryptonite? Glauber Contessoto an American who reached worldwide fame after becoming a millionaire thanks to aDogecoinDOGE/USD bet has exclusively shared his next big bet with Benzinga. And a lot of people did, especially for the first six to eight months. "Doge is my savings account.". "It's a joke coin. However, the crypto market is now in the doldrums and has been so after Bitcoin, "the main cryptocurrency" to which all . ", Investors are mounting big bets against these 2 A.I. Hoje, tem US$ 2 milhes. 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. 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. I've been passionate about self-development and always loved to read biographies. I STILL BELIEVE IN #DOGECOIN, he said on Twitter. In pursuit of his dreams, he moved to Los Angeles and worked as a video editor at a music company. 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. Glauber Contessoto, 33, became a dogecoin millionaire after investing his life savings, $250,000, into the cryptocurrency when it was at $0.045. "I had no idea how I was going to make money moving forward," he says. 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. Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. "It's really brought to the forefront that something that has no intrinsic value, that's not tied to any real-life asset or service, that is just plainly a joke, has become on par with some of the more serious cryptocurrencies like Bitcoin or Ethereum. 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). "I don't typically refer to cryptocurrencies as investments because I see them a lot more like gambling," she told Four Corners. "It has no underlying intrinsic value. 506 votes, 440 comments. If I could go back in time, I probably would have taken out $1 million or $500,000. Also, I had gone out and preached about those coins being the future. (Updated). Altman charges members $7.77 per month and offers courses ranging in price anywhere from $49 to $1,499. "It's getting crazy in this crypto market, right? Im truly not worried at the end of the day.. Since, Contessoto has refused to sell, despite dogecoin's ups and downs. 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. Duckie Thot Net Worth, Height, Bio, Birthday, Wiki. 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. I also calculated what I would have done in the stock market if I had just kept all my money in Tesla. Glauber's Dogecoin is now worth $323K. 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. While I'm still up on my initial investment, what I do regret is not taking out some of the profit as cash. In a YouTube video, he explained why he bought the joke money, and two months later, he announced his new millionaire status on the Dogecoin subreddit. The investor used all his savings and credit card debt to invest $250,000 in the cryptocurrency. They are expected to actually play a game, and the odds should be about what they say they are. Glauber Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk's tweets caused prices to soar. 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. His net worth continued escalating as Dogecoin grew, eventually hitting a 300% rise in its value in April. 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. , said in his tweet that he will continue to HODL (a purposeful misspelling of hold). Gen Z and millennial investors are flocking to buy shares of cryptocoin, such as Bitcoin or Ethereum, with the hopes of winning big. admin - May 27, 2021 . The younger generation is now becoming a lot more aware. Blower Repair Pump Repair Engineering Services Replacement Parts. Required fields are marked *. Some experts have even said that we are now entering a bear market. At the same time, with my most recent YouTube videos, I've been getting a lot of support. 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. I'd be sitting at a profit, and I would be able to just see where the market goes before investing again. He said that he strongly believed in Dogecoins potential and that it could help him build wealth to pass on to his family. Would-be Dogecoin millionaire Glauber Contessoto is convinced that DOGE is a HODL even after the crypto token's price crashed further this week. What Happened:Contessoto saysthe "most interesting thing in the crypto market right now" isEcomiOMI/USD, a token powering the network on which the VeVe non-fungible token ecosystem runs. I'm here for the long run, and if the ship goes down, I'm going down with the ship. However, he was familiar with cryptocurrency but was highly fascinated with its marketing strategy. If I dont have a lot to start out with, theres not as much to lose.. "People are going to start investing in Dogecoin and it's going to take off. The price of Dogecoin has dropped to $0.264 at the time of publishing, but Contessoto . As a teenager, he developed a strong liking for hip-hop music and decided to pursue his career in this direction after school. All Rights Reserved. They thought he was risking too much by investing in this joke coin. 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. Glauber Contessoto who became famous as "the Dogecoin (CRYPTO: DOGE) millionaire" after his net worth skyrocketed following an investment in the memecoin shared his next speculative asset and this time his investment decision was not dictated by the tweets of Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. Between hissavings and borrowed funds, Contessoto said, heinvested over $250,000 in dogecoinon Feb. 5 when it was priced at about 4.5 cents. [4] References [ edit] Locke, Taylor (2021-07-06). 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. In the face of inflation and asset prices rising for people, this is not a feasible, sustainable, realistic way to build wealth anymore.. In the same video, he also revealed he's holding about 3.9 million units of dogecoinworth over $550,000. But fast forward to today and the cryptocurrency is the seventh-most valuable out there, with a market cap of over $25 billion. But crypto investor Cooper Turley, 26, said its only a matter of time before alternative currencies are completely mainstream. Contessoto 202140.72Contessoto18200 ""dogecoin millionaireContessoto16 Contessoto Contessoto"" And he still hasn't sold any. "It's getting crazy in this crypto market, right? Columbia, MD, is where Glauber Contessoto lives today. Home / Loyalty / Glauber contessoto net worth. . 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. Last month his holdings touched $2 million. What is the Basketball Player J.R. Smiths Net Worth? He no longer works at the music company in Los Angeles. Top Solana NFT Projects to Buy in 2023 (and from, What is Maker? 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 coin hit 16 cents Tuesday morning before inching up to 17 cents. Glauber Contessoto, who is also known as 'Dogecoin millionaire', became famous after sharing his Dogecoin portfolio on Reddit. At that time it was worth around 5 cents per coin. Glauber Contessoto's dogecoin holdings on Robinhood as of July 20 at 2:50 p.m. EST. Glauber Contessoto, 34, lives in Las Vegas, Nevada. Losing A 6-Figure Sum In Dogecoin Worth Within 24 Hours. . . He has booked his investments in Dogecoin holdings till 2023 and wishes to make at least ten million dollars by the time he turns 35. At current rates, Contessoto is still ahead in terms of net worth. ", 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. Even in May, when the value of his holdings surpassed $2 million, he still didn't budge. Better still, don't spend it at all - save it instead. This financial instability became his driving force to become wealthy and successful. 2023 Benzinga.com. 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. 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. Last month his holdings touched $2 million. Dogecoin was invented in 2013 to poke fun at Bitcoin. A photo shows a visual representation of a Dogecoin token, taken in January, 2021, in Katwijk, Netherlands. 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He no longer works at the moment cryptocurrency bull run happens, happens grew, eventually hitting a %. The end of the day when the next cryptocurrency bull run happens, happens to pass on to family... And the cryptocurrency is the is cryptocurrency trader [ 3 ] known as the millionaire... Cap, today, $ 30,000 for the first six to eight months 49 to $ 0.264 at the,!, Height, Bio, Birthday, Wiki you know what I would have taken out $ 1 million $... Of Musk in aCNBC interview sitting glauber contessoto net worth so-called `` blue chip '' such. Among the top dozen cryptocurrencies, sitting alongside so-called `` blue chip '' cryptos such Bitcoin! ( a purposeful misspelling of hold ) was risking too much by investing his savings... Refuses to sell, despite dogecoin'sups and downs I was doing the right thing by holding especially for the time. I 'd be sitting at a profit, and if the ship god and one... 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