Contessoto remains loyal to Dogecoin

Glauber Contessoto, better known as the Dogecoin Millionaire, has doubled down on his commitment to the famed meme cryptocurrency.

Contessoto became a millionaire just two months into the 2021 crypto frenzy caused by Elon Musk throwing his support behind both Bitcoin and Dogecoin (Doge).

Contessoto calls himself a SlumDoge Millionaire referring to the slump in the currency he invested all his savings into. But he also says he is here to play the long game and intends to keep his holdings.

He says he’s a HODLer, which is the term used to refer to a crypto investor who plans to stick to the cryptocurrencies they have invested in rather than sell up when they feel the market is about to go down.

“It made sense to me to invest in Doge because it’s the very first time you have a meme and a cryptocurrency paired together”, Contessoto told ABC News. Contessoto is not intimidated by the fact that the original purpose of Doge was to ridicule what cryptocurrencies stand for.

Regardless, Doge has achieved resilience that few other cryptocurrencies have been able to pull off.

Contessoto referred to the recent crash of TerraUSD, tied to the Luna token, which in turn is supposedly tied to the US dollar.

Doge has outperformed all stablecoins in the long-term, he believes precisely because it does not pretend to be anything than it already is.

Not everyone is happy with cryptocurrencies, of course. Consultant and former US Securities and Exchange Commission executive John Reed Stark has called it “one big Ponzi scheme”.

Despite the differing opinions, you can enjoy crypto recreationally at places such as Bitcasino, 1xBit or FortuneJack.

Source

Updated: 05/31/2022 — 09:00