‘Doge is my savings account’: This 33-year-old is no longer a ‘dogecoin millionaire’but he’s still buying the dips

SourceCNBC
SectorTechnology
CountryMiddle east

The top cryptocurrencies by market value, including bitcoin and ether, are . Among those is meme-inspired cryptocurrency dogecoin, which is since its all-time high of in May. But investor Glauber Contessoto, whose dogecoin holdings , isn’t worried.

“You just gotta zoom out and chill,” Contessoto, 33, tells CNBC Make It. Though he isn’t a financial expert, he’s optimistic that dogecoin has already hit bottom. The coin before inching up to 17 cents. Between his savings and borrowed funds, Contessoto says that he  on February 5 when it was priced at about 4.5 cents. About two months later, on April 15, he says he  on paper. Since, Contessoto has , despite dogecoin’s . Even in May, when the value of his , he still didn’t budge. Now, with dogecoin trading , he . “I can’t pass up a good bargain,” Contessoto says. Last week, he bought over $5,300 worth of dogecoin when it was around 17 cents, he says. “Doge is my savings account,” he says. As of around 2:50 p.m. EST on Tuesday, his dogecoin holdings were worth $700,217.09. However, financial experts are highly , as well as other cryptocurrencies. Their extreme volatility is one reason why experts

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