Glauber Contessoto, a 33-year-old LA resident, became a Dogecoin (DOGE) millionaire this year in April after putting his life savings on the line.
A few days ago in an exclusive interview, the Dogecoin millionaire told CoinStats that despite all the discouragement from family and friends, he decided to invest everything he had in Dogecoin after reading about crypto on Reddit.
Was It a Calculated Move?
One of the main reasons behind Contessoto’s investment in Dogecoin is Elon Musk, the billionaire behind Dogecoin’s inevitable ascension. Plus, he was disappointed in the stock market when GameStop Corp stocks dropped approximately 88.29% from an all-time high of $347.51 to $40.69 in about three weeks in February.
He said, “Understanding what happened with it [GameStop] and how unfair I felt the stock market really was, I looked into crypto and realized this was an alternative way of investing my money.”
The Dogecoin millionaire told CoinStats that he sold his Tesla and Uber stocks and gathered $250,000 with the help of Robinhood’s margin investment feature, subsequently investing all of it into the memecoin. Sooner than expected – in just 69 days – Glauber Contessoto became a Dogecoin millionaire. He immediately broke the news on Reddit: “Hey guys, I just became a dogecoin millionaire.”
Contessoto, who has a middle class background and used to work in the hip-hop music industry, claims that he doesn’t know technical analysis and mostly relies on social media trends. His taste in crypto is different from that of professionals: He prefers newer coins with a smaller market cap, although it’s risky. That being said, he tells everyone to research before investing in crypto, especially memecoins, which are notoriously volatile.
His Next Big Move
As the Dogecoin millionaire shared his love for more recent coins, he stated that his second heavy bag is Floki Inu (FLOKI). He hodls more than 822 million FLOKI, worth around $92,000 at the time of writing, at $0.0001084 each. This is in addition to the 4.3 million DOGE — worth $718,530 at the time of writing, at $0.1639 each — which he says he hasn’t sold yet.
Contessoto believes that Dogecoin combined with Floki Inu, which is named after Elon Musk’s dog, can help him retire at 35 with $10 million and that “[he] will be happy.”
The young memecoin FLOKI has already gathered a huge community around it thanks to its latest projects: Floki Inu’s team is developing a play-to-earn (P2E) non-fungible token (NFT) video game called VALHALLA, an educational platform called Floki Inuversity, and merchandise and NFT marketplace called FlokiPlaces. The project’s utilities gave hope to the DOGE millionaire.
No More Hip-Hop
Glauber Contessoto chose to quit his job in the hip-hop music company to grow his social media presence by creating “tons of content.” Last but not least, he has already become a crypto superstar with over 177k followers on Twitter and 107k YouTube channel subscribers at the time of writing.
The DOGE millionaire hasn’t monetized his YouTube channel with Google Ads. Instead, he sells DOGE merch and creates promotional videos. He said that he is earning 6x more than he used to at his former job.