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Whatever Happened to the Dogecoin Millionaire?
Glauber Contessoto, otherwise known as the "dogecoin millionaire," made a big bet on the popular-yet-volatile cryptocurrency, reportedly exhausting his personal savings on dogecoin. In April of 2021, when the value of dogecoin reached an all-time high of $0.72, Contessoto claimed that his initial $180,000 portfolio had reached a worth of about $2 million.
However, the "dogecoin millionaire" moniker was a short-lived one, as dogecoin dropped significantly the following month, with Contessoto's portfolio suffering severe losses. Even though his investment took a beating, Contessoto didn’t regret holding onto his meme-inspired cryptocurrency, believing its value will only grow in the long term.
To this day, the “dogecoin millionaire” still refuses to sell his stake. Contessoto even told CNBC that he treats his doge holding as his savings account, and still continues to accumulate more dogecoin whenever it dips. There is one thing Contessoto is selling, though — his own beard cream lineup called the “Diamond Hand.”