‘Dogecoin Millionaire’ Reveals He’s Still Holding On To DOGE Despite Losses


Dogecoin millionaire Glauber Contessoto first came into the spotlight after he posted his Dogecoin portfolio on Reddit. When the Doge rally was nearing its peak, Contessoto had posted to the Dogecoin subreddit, which earned him the title of the Dogecoin millionaire. Although what kept Contessoto in the spotlight had not been his millionaire status. It was his refusal to dump his bags when the digital asset had begun to decline.

Despite losing over $150K in a single day, Contessoto had held on to his Dogecoin. Refusing to sell even a small fraction of it. This has led to Contessoto losing his millionaire status. But the investor remains undeterred in his resolve. As the market heads into even rougher paths ahead, the investor has revealed that he indeed does not plan to sell his Doge holdings.

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Holding His Dogecoin And Buying The Dips

Contessoto took to Twitter recently to give his over 83K followers an update on his Dogecoin holdings. According to the tweet, Contessoto is still holding on to his Dogecoin investments from 2020. And has, in fact, continued to increase his holdings over time in the meme coin. Apparently buying coins every time the digital asset had dipped this year. And plans to hold through to 2023.

Dogecoin price chart from TradingView.com

Dogecoin trading above $0.2 | Source: DOGEUSD on TradingView.com

Contessoto explained that to be in the crypto market, investors have to be ready to hold through the good and the bad times. And that investors have to be prepared to take on bear markets when they do happen.

“If you can’ hold through a bear market, do you even deserve to be in crypto? No, that’s bulls**t,” Contessoto added.

Cardano Joining The Lineup

Contessoto had revealed in late August that he was no longer just focusing on Dogecoin. The investors had found another project that had caught his attention, Cardano, and said that he planned to go “all in”. Explaining his reasoning, he explained that in the next five years, Cardano will be one of the top 5 coins in the market, which made it a good crypto bet.

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At this point, the price of ADA had grown to almost $3 and Contessoto said he planned to wait for a dip before buying into the asset. And has kept to his word. Cardano had not been spared in the recent market crash and its price had lost its hold on the $3 point. This had prompted Contessoto to buy ADA.

Now, alongside Dogecoin, Contessoto now holds at least 3,500 ADA worth $7,200 and continues to tweet updates of his journey with Cardano.

Featured image from Unsplash, chart from TradingView.com

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