Glauber Contessoto, a 33-year-old Los Angeles man, became a Dogecoin billionaire in April after risking his whole life savings.
In an exclusive interview with CoinStats a few days ago, the Dogecoin millionaire said that despite the advice of family and friends, he opted to spend everything he had in Dogecoin after reading about crypto on Reddit.
Elon Musk, the billionaire behind Dogecoin’s inevitable climb, is one of the key reasons for Contessoto’s investment in the cryptocurrency. In addition, he was disappointed in the stock market in February, when GameStop Corp stock fell 88.29% from an all-time high of $347.51 to $40.69 in only three weeks.
“Understanding what happened with it [GameStop] and how unfair I felt the stock market really was, I looked into crypto and realized this was an alternative way of investing my money.”
According to CoinStats, the Dogecoin millionaire sold his Tesla and Uber stocks and used Robinhood’s margin investment function to raise $250,000, which he then invested entirely in the memecoin. Glauber Contessoto became a Dogecoin millionaire in just 69 days, according to his April 16 tweet, which stated, “Hey folks, I just become a dogecoin billionaire.”
Contessoto, who comes from a middle-class household and has a hip-hop background, maintains he has no technical knowledge and instead relies on social media trends. His crypto preferences differ from those of specialists, and he favours newer currencies with a smaller market cap, despite the fact that this is riskier. Furthermore, he advises everyone to do their homework before investing in cryptocurrency, particularly memecoins.
As part of his love for more recent coins, the Dogecoin millionaire claimed that Floki Inu is his second heavy bag (FLOKI). In addition to the 4.3 million DOGE — worth $718,530 at $0.1639 per at the time of writing — he said he hasn’t sold any of it yet. He also has about 822 million FLOKI, which are worth around $92,000 at $0.0001084 per at the time of writing.
Contessoto believes that Dogecoin, in combination with Floki Inu, named after Elon Musk’s dog, will enable him to retire at 35 with $10 million and that [he] will be pleased.
Thanks to its recent endeavors, the nascent memecoin FLOKI has already amassed a sizable fanbase. The Floki Inu team is working on VALHALLA, a play-to-earn (P2E) non-fungible token (NFT) video game, as well as Floki Inuversity, an educational platform, and FlokiPlaces, a merchandise and NFT marketplace. The DOGE millionaire saw optimism in the project’s utilities.