While crypto investors are still considering whether to invest in Dogecoin (DOGE) or not out of concern if this asset is just shitcoin, Glauber Contessoto without hesitation made an investment of $ 180,000!
In the opinion of amateur investors, this is not an easy decision. What’s more this 33-year-old man is not a wealthy person and has sold all the shares he owns including Tesla and Uber shares before all-in for Dogecoin. In fact he didn’t even hesitate to make a loan on the online app, Robinhood.
When Contessoto bought Dogecoin on Feb. 5, the price traded around $ 4.5 cents.
What prompted this individual to buy DOGE was because he was comfortable with the Dogecoin community on Reddit besides being excited because it was inspired by the Japanese breed dog, shiba inu.
He also admires Dogecoin icon, Elon Musk, considers the millionaire a genius! Not to be outdone also he is so confident with the currency to be bullish as well as will benefit him and his legacy.
Contessoto revealed that he also received advice from his acquaintances following the decision: “This is just a pump and dump scheme. The value will be zero. ”
Unexpectedly, two months later the price of dogecoin started to show positive movement starting April 15th. Dogecoin managed to record a 400% jump with a market value reaching $ 49 billion.
At the time DOGE was trading at around $ 45 cents and Contessoto’s stake in Robinhood recorded a value of $ 1,081,441.29.
The profit was shared on the Reddit site, telling not to sell it in the near future. Instead told: “Once this savings reaches $ 10 million, I will withdraw 10%. These assets will continue to grow. ”
Even after that moment the price of DOGE plummeted, Contessoto said his DOGE savings still exceeded a million dollars.
At the time of writing, DOGE is trading at $ 0.27, jumping over 1% in 24 hours.
