Inspired by Elon Musk, a dogecoin investor shared how the digital token made him a millionaire in a matter of months. According to the investor he consumed all his savings for investment in the Doge.
The 33-year-old Doge-investor Glauber Contessoto is the millionaire who shares his success story. Contessoto works at a Los Angeles music company and in two months he earned millions from Doge.
It all began with an investment of $180,000 in Dogecoin back in February. At that time the price of the token was 4.5 cents. The Dogecoin millionaire gave an interview to CNBC and made these revelations.
Divulging into what inspired him, he revealed that it was Tesla’s CEO or rather technoking Elon Musk who inspired him. Earlier in February Musk had been very actively talking and tweeting about the meme currency, Doge. Musk’s tweets on the token had inspired many on social media and the token had really gotten popular during that time.
Contessoto had learned about the currency through Reddit and Musk’s tweets. It was Musk’s tweets on several occasions that invigorated Contessoto to think about investing in the token.
Contessoto gave his reasons for being attracted to the crypto token. Though he loves the Reddit community around dogecoin, it was the Shiba Inu Doge meme that inspired him the most. He is very optimistic about the growth of the digital token and believes that it can help him make generational wealth. He added that this generational wealth he could pass on to his future family.
Contessoto revealed that experiencing poverty while growing up this investment was a big thing for him. He further revealed that the second reason for investing in dogecoin was Elon Musk, calling the technoking a genius.
In order to invest in the Dogecoin, Contessoto traded his stocks in entirety, including his shares in Uber and Tesla. Additionally, he also dispensed all his savings into the crypto token. Then by borrowing money from the Robinhood app he invested on margin.
Many crypto experts have cautioned about investing in the Doge token. It could have been colossal damage for Contessoto as he contributed and invested in the digital token in spite of advice from his companions. One of his friends forewarned that Dogecoin was a pump-and-dump scheme that would reach zero in the long run.
However, it was in the second week of April that the price of Dogecoin started going up. It went up by 400% and reach a market cap of $49 billion the very next day. It eventually reached an all-time high of 45 cents taking Contessoto’r balance to $1,081,441.29, which he announced on Reddit for others.
Winding up, Contessoto clarified that he had no intentions of selling his Dogecoins any time soon as he plans to his $10 million with it.