In a recent interview, Glauber Contessoto, the man who invested all of his savings (around $250,000) in Dogecoin ($DOGE) on February 5, said that he is going to start investing in Cardano ($ADA).
On April 22, the 33-year-old man, who works at a music company in Los Angles, told CNBC’s “Make It” program that after learning about the meme-based cryptocurrency on Reddit, on February 5, when $DOGE was trading around 4.5 cents, he invested around $250,000 in the popular cryptocurrency.
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.
Contessoto told CNBC that since “he didn’t have disposable income to buy dogecoin,” he “not only used all his savings, but he also sold all the stock he owned, including shares of Tesla and Uber, and invested on margin by borrowing money from Robinhood via the app.”
On April 16, he took to Reddit to make a post titled “Hey guys I just became a Dogecoin millionaire” in subreddit “/r/dogecoin”.
Back on April 22, Contessoto told CNBC that he planned to HODL until his $DOGE position is worth $10 million:
“My plan is, once I hit $10 million, then I’ll take out 10%,” he says. In his opinion, “this stuff is going to continue to grow.“
Well, in his most recent interview with CNBC on August 26, Contessoto says that although he still has no plans for selling any of his $DOGE holdings, he wants to use as much as of his disposable income as possible to buy $ADA:
“I’m going to start buying up as much Cardano as humanely possible with every bit of money I start making from now on.“
According to a tweet he posted yesterday, the other cryptocurrencies that Contessoto is bullish on for the next five years are Ethefreum, Bitcoin, and XRP.
He went on to tell CNBC that he is going to wait for “a massive dip” before he starts investing in $ADA. He also mentioned that he is “going to be the biggest Cardano supporter.”
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.