Crypto trader Glauber Contessoto shared his success, namely that his investment in Dogecoin (DOGE) grew to $ 1 million after he invested all his capital in the meme cryptocurrency.
The 33-year-old revealed that he decided to invest in Dogecoin when he found out about cryptocurrency on Reddit. He admitted to being influenced by tweets from Tesla CEO and tech entrepreneur Elon Musk, who writes frequently about the coin.
The reason I put my savings in Dogecoin is because Elon Musk … I think this guy is a genius.
Contessoto did not have free funds to buy DOGE, so he sold all his shares, including Tesla and Uber, and spent more than $ 180,000 to acquire Dogecoin.
On February 5, he bought five million Dogecoin for about $ 0.045 and kept the cryptocurrency, despite claims that the coin moves in the classic pump and dump pattern and is highly speculative.
Two months later, the price of Dogecoin surged 400% to a record high of around $ 0.45, bringing Contessoto’s DOGE assets to $ 1,081,441.29 on April 15.
The trader took a screenshot of his Robinhood account and posted it on the r / dogecoin subreddit with the joyful signature that he became a Dogecoin millionaire.
In the future, the price of Dogecoin fell to $ 0.264, however, Contessoto believes that the digital asset will continue to grow, so he is not going to sell his assets in the near future.
My plan is this: as soon as I make $ 10 million, I will sell 10%. This asset will continue to grow.
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