Glauber Contessoto became a Dogecoin millionaire after investing in the cryptocurrency, showing that there have been some success stories from the investment trend.
Contessoto told CNBC that he invested close to $180,000 into Dogecoin .On Feb 5 when the cryptocurrency cost about $0.045. He decided to watch the cryptocurrency to see what happened.
And on April 15 when the cryptocurrency reached close to $0.20 because of a recent spike. Contessoto noted that he became a Dogecoin millionaire. His investment of $180,000 grew to over $1 million in about two months.
His friends were critical of the meme cryptocurrency and warned him to be careful.
“I was excited about it. I was very new to Reddit, so I wanted to make a post,” he told CNBC.
Glauber Contessoto became a millionaire by investing in Dogecoin
Eight years ago, dogecoin was created as a parody faster and “fun alternative to bitcoin by software engineers Billy Markus and Jackson Palmer .Though some retail investors have profited from its recent surge, experts warn that people should only invest what they can afford to lose.