Dogecoin (DOGE) was the coin that surprised investors the most in the bull rally. While Elon Musk was also expected to experience a small increase in DOGE, which is the center of attention, crypto investors were surprised that it reached its current levels.
Those who foresaw this rise potential joined the millionaires in the bull season. Most recently, 33-year-old Glauber Contessoto, who works for a music company in Los Angeles, was among these millionaires.
In an interview with CNBC, Contessoto explained how he became a millionaire with Dogecoin.
Contessoto is not out of date in DOGE investment. Contessoto sees DOGE on a Reddit post while Dogecoin is still around $ 0.045 on February 5th and decides to invest $ 180,000.
The investor mentioned 3 main reasons for this decision.
“# 1 I liked the Dogecoin community at Redditt. 2nd place I liked the “Shiba Inu” figure and 3rd place I followed closely Elon Musk’s Dogecoin advocacy. ”
The investor continued in the interview, saying that he has no disposable income to buy Dogecoin, and also stated that he has sold Tesla and Uber shares he holds.
Contessoto, who later posted on Reddit, said the following sentence:
“I bought 5 million dogecoins on February 5, 2021 at a price of about 4 cents, 69 days later, I became a millionaire on April 15, 2021”
According to his interview with CNBC, Contessoto stated that he does not intend to dispose of Dogecoins in a short time.
“I think these things will continue to grow. My plan is to sell 10% when I reach $ 10 million ”
Although Contessoto’s Dogecoin chance has gone positive, experts state that this type of investment strategy is not sustainable and that cryptocurrencies have a high degree of risk due to the high volatility. Experts state that investors’ unconscious investment in the cryptocurrency space with all their assets can have a heavy bill.