Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
CNBC has shared a story of 33-year-old DOGE holder who would not sell any of his Dogecoins worth $830,000,000 now, not even after losing $167,000 on his crypto investment in a single day.
The article was shared by Nouriel Roubini (aka Dr. Doom), a vocal crypto hater.
Seeing $250K grow to $2 million, thanks to DOGE
33-year old Glauber Contessoto used his life savings to buy Dogecoin - $250,000 – on February 5.
After the meme-token favored by Elon Musk rallied, on April 15, Contessoto’s holdings grew to be worth over $1 million.
On May 8, when the Dogeprice surged to an all-time high of $0.73, his DOGE holdings became worth over $2 million.
However, on Monday, Bitcoin, Ethereum and DOGE plunged on the news of the Chinese crackdown on PoS crypto miners.
On Tuesday, the DOGE Contessoto holds already cost $167,000 less. On that day, his crypto portfolio that is made up only of Musk’s favorite cryptocurrency, is worth around $831,538.88.
DOGE investor not worried about volatility
Glauber Contessoto is taking the situation easy, since it is not only Dogecoin that is in decline.
He has told CNBC that now he intends to hold his DOGE for much longer than a year, so he is not worried about the short-term price jerks.
In the end, Contessoto hopes his meme-coin portfolio will be worth a whopping $10 million and he is patiently waiting for that day.
Vladislav Sopov