- Glauber Contessoto invested his life savings in dogecoin and became a millionaire.
- He told Insider that he believes cardano will be “blockchain 3.0” and is buying the ada token.
- Contessoto also revealed the other two shitcoins he owned earlier this year.
Glauber Contessoto will always hold a special place in his heart for one cryptocurrency in particular.
“Nothing is ever going to top dogecoin,” the 33-year-old investor told Insider. “It’s the best version of a meme coin, why would you look elsewhere?”
Contessoto hit headlines in April when his 4 million dogecoins made him a millionaire as prices rose above 25 cents. Dogecoin, the joke cryptocurrency modeled after a Shiba Inu dog, has developed a devout online following that includes Mark Cuban and Elon Musk.
Dogecoin has been even more volatile than the overall cryptocurrency market in 2021, soaring from half a cent at the beginning of the year to an all-time high of 68 cents in early May. Prices have since collapsed to around the 30 cent level.
Contessoto revealed that he briefly owned two other shitcoins, safemoon and elongate, but put the earnings he made back into dogecoin. A shitcoin is a cryptocurrency with little to no discernible value or purpose.
“Safemoon is clearly a shitcoin,” Contessoto told Insider. “I had $2,000 of it when it came out, and I thought about long-term holding, but then I sold my Safemoon at $25,000 to buy the dogecoin dip.”
“I also bought Elongate, which was named after an Elon Musk tweet,” he added. “I put in $1,000, it quadrupled to $4,000, but again, I sold it all to buy more dogecoin.”
Contessoto also told Insider that he’s now looking at another cryptocurrency – ada, the native cryptocurrency of the cardano platform.
“My meme coin days are over,” he said. “I’m not just jumping into cardano because of the hype. I didn’t buy it because it just hit an all-time high, I hit it because of all the positive noise coming from the crypto space.”
Ada’s price soared from $1.32 to $2.87 last month. At the start of September, it passed $3 for the first time after developers began upgrades that will allow smart contracts to be hosted on the network.
“Bitcoin was the original blockchain, ethereum was blockchain 2.0,” Contessoto said. “I believe cardano is blockchain 3.0, because it’s solving blockchain’s environmental problems by going from proof of work to proof of stake. It also has a really strong community behind it and intertwines well with other blockchains.”
“I’m now locked in on the amount of dogecoin I’ll hold,” he added. “Every dollar from here is going all-in on cardano.”