Dogecoin Billionaire Says Coin Approaching His Entry as He Loses Over $2 Million

Glauber Contessoto, popular known as Dogecoin Billionaire, on Monday announced Dogecoin is now approaching his entry price when he dumped $180,000 on the joke coin in 2021.

Contessoto became popular after turning a $180,000 investment in Dogecoin into $3 million in 2021. However, the millionaire refused to take profits despite the fact that the cryptocurrency space is unregulated and highly volatile.

In one of his numerous interviews, he said the memes coins are the language of millennials and repeatedly claimed he is in for the long haul.

On Monday, in a few tweets, he said whether he cashed out or not, he has shown people it was possible to become a millionaire with cryptocurrency investment. Meaning despite the value of his holding plunging from $3 million to about $300,000, Contessoto is not bothered.

According to his interview with CNBC, Dogecoin Billionaire entered his position at about 4.5 cents. On May 8, the meme-inspired cryptocurrency, hit an all-time high of about 73 cents, and the value of Contessoto’s holdings surpassed $2 million.

After the surge, dogecoin’s price continued to fluctuate, but Contessoto remained confident in holding for the long-term — he even bought more dogecoin during the dips. Even now, he refuses to sell.

Still, Contessoto remains bullish on dogecoin, even though he isn’t currently a “dogecoin millionaire” on paper. “When I went into this dogecoin investment, I planned on being in it for at least a year,” he says. “I put in my life savings because I knew I would eventually become a millionaire.”

Now, he plans to hold the currency for much longer than a year. “Whatever happens in the short-term doesn’t matter to me because I’m looking to ‘hodl’ dogecoin for years to come. I’m truly not worried at the end of the day.”