- Glauber Contessoto invested his life financial savings in dogecoin and have become a millionaire.
- He instructed Insider that he believes cardano will probably be “blockchain 3.0” and is shopping for the ada token.
- Contessoto additionally revealed the opposite two shitcoins he owned earlier this 12 months.
- See more stories on Insider’s business page.
Glauber Contessoto will at all times maintain a particular place in his coronary heart for one cryptocurrency specifically.
“Nothing is ever going to prime dogecoin,” the 33-year-old investor instructed Insider. “It is one of the best model of a meme coin, why would you look elsewhere?”
Contessoto hit headlines in April when his 4 million dogecoins made him a millionaire as costs rose above 25 cents. Dogecoin, the joke cryptocurrency modeled after a Shiba Inu canine, has developed a religious on-line following that features Mark Cuban and Elon Musk.
Dogecoin has been much more risky than the general cryptocurrency market in 2021, hovering from half a cent originally of the 12 months to an all-time excessive of 68 cents in early Might. Costs have since collapsed to across the 30 cent stage.
Contessoto revealed that he briefly owned two different shitcoins, safemoon and elongate, however put the earnings he made again into dogecoin. A shitcoin is a cryptocurrency with little to no discernible worth or function.
“Safemoon is clearly a shitcoin,” Contessoto instructed Insider. “I had $2,000 of it when it got here out, and I considered long-term holding, however then I offered my Safemoon at $25,000 to purchase the dogecoin dip.”
“I additionally purchased Elongate, which was named after an Elon Musk tweet,” he added. “I put in $1,000, it quadrupled to $4,000, however once more, I offered all of it to purchase extra dogecoin.”
Contessoto additionally instructed Insider that he is now one other cryptocurrency – ada, the native cryptocurrency of the cardano platform.
“My meme coin days are over,” he stated. “I am not simply leaping into cardano due to the hype. I did not purchase it as a result of it simply hit an all-time excessive, I hit it due to all of the optimistic noise coming from the crypto house.”
Ada’s value soared from $1.32 to $2.87 final month. At the beginning of September, it passed $3 for the primary time after builders started upgrades that may permit sensible contracts to be hosted on the community.
“Bitcoin was the unique blockchain, ethereum was blockchain 2.0,” Contessoto stated. “I consider cardano is blockchain 3.0, as a result of it is fixing blockchain’s environmental issues by going from proof of labor to proof of stake. It additionally has a very sturdy group behind it and intertwines properly with different blockchains.”
“I am now locked in on the quantity of dogecoin I will maintain,” he added. “Each greenback from right here goes all-in on cardano.”