34-year-old Glauber Contessoto, who is better known to the crypto community as “The Dogecoin Millionaire”, recently talked 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 meme cryptocurrency on Reddit, on 5 February 2021, when $DOGE was trading around 4.5 cents, he invested over $180,000 in Dogecoin.
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 16 April 2021, he took to Reddit to make a post titled “Hey guys I just became a Dogecoin millionaire” in subreddit “/r/dogecoin”.
Interestingly, some of the details of his alleged Dogecoin purchase were different here from what he told CNBC for the article they published on April 22.
“I bought on February 5th 2021 about 5 million dogecoins at about 4 cents 🚀 69 days later on April 15th 2021 – I became a millionaire…“
According to what he told CNBC, he has no plans to sell his Dogecoin holdings any time soon:
“My plan is, once I hit $10 million, then I’ll take out 10%,… this stuff is going to continue to grow.“
Dogecoin Millionaire Reveals He Has Bought 500 Million $FLOKI Tokens
In an interview with Bezinga published on 12 December 2021, Contessoto said he had spent $125,000 to buy 500 million Floki Inu ($FLOKI) tokens . He also mentioned that $DOGE remained 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 buying $FLOKI — so that he can reach his goal of owning one billion $FLOKI tokens — and that he would use dips to put additional income into $FLOKI and $DOGE.
Dogecoin Millionaire’s Interview With Graham Stephan
Contessoto shared his latest thoughts on cryptocurrencies for an episode of Graham Stephan’s “The Iced Coffee Hour” podcast that was released on Monday (February 14).
Here are a few highlights from that interview:
- He quit his job at the LA-based music company where he was working last year to concentrate on growing his brand and focus on his new full-time career as a crypto influencer. He is also planning to move toLas Vegas.
- He has not been posting much in the past several weeks due to some health issues, but in December 2021, he managed to have an income of $9,000 from his YouTube channel.
- Regarding the future of Dogecoin, he remains “super bullish”, believing that it will do well “long term”.
- 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 the $DOGE that he first bought on Robinhood in April 2021. He currently holds around four million $DOGE coins. He’d 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 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.