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Former ‘Dogecoin Millionaire” Still Buys Dips, Calls DOGE His Savings Account

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Wed, 07/21/2021 - 10:17
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Yuri Molchan
33-year-old YouTuber is no longer a "Dogecoin millionaire," but he keeps stocking up on DOGE when it dips
Former ‘Dogecoin Millionaire” Still Buys Dips, Calls DOGE His Savings Account
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Thirty-three-year-old DOGE investor and YouTuber Glauber Contessoto, who formerly promoted himself on the web and in the media as a "Dogecoin millionaire," has stopped being that as the worth of his DOGE holdings no longer makes him a millionaire, according to CNBC.

Contessoto continues to buy Dogecoin dips and considers DOGE to be his savings account now.

Earning millions on DOGE and losing them as market crashed

After Elon Musk's favorite coin reached a historic peak of $0.74 back in May, the crypto holdings of Glauber Contessoto in this meme currency reached over $2 million in value.

However, after that, the DOGE price began declining and is trading at $0.1869 at press time, as per CoinMarketCap data.

Earlier, CNBC reported that, in February, Contessoto brought in over $250,000 worth of Dogecoin. When the coin started heading down from its May all-time high, he lost $170,000 in a single day.

He quit his day job and began focusing on his social media presence as a "Dogecoin millionaire." He started earning by selling his merch on his website and getting paid in Doge for promoting other crypto projects, as covered by U.Today recently.

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

"I can't pass up a good bargain"

The former DOGE millionaire keeps buying dips now and treats Dogecoin as his savings account.

Last week, he purchased DOGE for $5,300, when it cost $0.17. On Tuesday, his Dogecoin stash was worth slightly over $700,000, having shrunk from over $2 million just a short while ago.

He plans to wait for his DOGE holdings to become worth $10 million, and then he will cash out 10 percent of it, leaving the rest to grow in price.

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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.