Glauber Contessoto, 34, better known to the crypto community as “The Dogecoin Millionaire,” recently spoke to money guru Graham Stephan about his crypto investments.
How Glauber Contessoto Became Known as the Dogecoin Millionaire
In April 2021, Contessoto told CNBC’s “Make It” that after learning about the cryptocurrency meme on Reddit on February 5, 2021, when $DOGE was trading around 4.5 cents, he had invested over $180,000 in Dogecoin.
Contessoto said he decided to invest in Dogecoin for three main reasons: (1) he liked the Dogecoin community on Reddit; (2) he liked the “Shiba Inu” meme; and (3) Elon Musk’s Dogecoin advocacy.
Contessoto told CNBC that since “he had no disposable income to buy dogecoin,” he “not only used all of his savings, but he also sold all of the stocks he owned, including the shares of Tesla and Uber, and invested on margin by borrowing.” money from Robinhood through the app.
On April 16, 2021, he took to Reddit to post a post titled “Hey Guys I Just Became a Dogecoin Millionaire” to the “/r/dogecoin” subreddit.
Interestingly, some of the details of his alleged purchase of Dogecoin were different here than what he told CNBC for the article they published on April 22.
“I bought on February 5, 2021 about 5 million dogecoins at about 4 cents 🚀 69 days later on April 15, 2021 – I became a millionaire…“
According to what he told CNBC, he has no plans to sell his Dogecoin holdings anytime soon:
“My plan is, once I hit $10 million, then I’ll withdraw 10%,…this stuff is gonna keep growing.“
Dogecoin Millionaire Reveals He Bought $500 Million FLOKI Tokens
In an interview with Bezinga published on December 12, 2021, Contessoto said he spent $125,000 to buy 500 million Floki Inu tokens ($FLOKI). He also mentioned that $DOGE remains his top crypto holding (with his 4.3 million $DOGE tokens worth around $900,000 at the time of the interview).
He went on to say that he would continue to buy $FLOKI – so he could reach his goal of owning one billion $FLOKI tokens – and that he would use dips to put additional revenue into $FLOKI and $DOGE. .
Dogecoin Millionaire Interview with Graham Stephan
Contessoto shared his latest thoughts on cryptocurrencies for an episode of Graham Stephan’s “The Iced Coffee Hour” podcast which was released on Monday, February 14.
Here are some highlights from that interview:
- He quit his job at the Los Angeles-based music company where he worked last year to focus on growing his brand and focusing on his new full-time career as a crypto influencer. He also plans to move to Las Vegas.
- He hasn’t posted much in recent weeks due to health issues, but in December 2021 he managed to earn $9,000 from his YouTube channel.
- Regarding the future of Dogecoin, he remains “super bullish”, believing that it will do well “in the long run”.
- He was working with a company that is developing a crypto debit card that allows the holder to spend $DOGE at any merchant that accepts Visa.
- He still holds all of the $DOGE coins he first purchased on Robinhood in April 2021. He currently holds approximately four million $DOGE coins. He would like to increase his $DOGE holdings to five million coins.
- He is currently “dabbling” in various other crypto projects (besides $FLOKI, which is his second largest crypto holding).
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto-assets involves the risk of financial loss.
Featured image by “Maylay62” via Pixabay