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DOGE USD Millionaire Keeps Holding Despite Losing $167,000 in Dogecoin in One Day

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Wed, 06/23/2021 - 13:18
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Yuri Molchan
Holder of $1 million worth of DOGE has lost almost $170,000 in one day but he keeps holding his meme coins
DOGE USD Millionaire Keeps Holding Despite Losing $167,000 in Dogecoin in One Day
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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.

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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.

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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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.