In February, Glauber Contessoto, 33, invested all of his discounts in dogecoin, a meme-impressed cryptocurrency that surged in worth this yr. And about two months later on, in April, he states he became a dogecoin millionaire on paper.

Now, Contessoto designs to go “all in” on another cryptocurrency, he tells CNBC Make It. His future option is the Cardano blockchain and its altcoin ADA, which released in 2017 and just lately became the third-greatest cryptocurrency by market place price, driving bitcoin and ether.

Although he has no options to provide his dogecoin, “I’m going to start out acquiring up as significantly Cardano as humanely feasible with each and every little bit of revenue I start creating from now on,” he claims.

Contessoto programs to wait around right up until there is a dip in the selling price of ADA to begin investing, he states, just as he did with dogecoin.

Having said that, numerous monetary experts would advise from going all in on a single expense, particularly within the crypto place. Cryptocurrency can be a quite dangerous expenditure in basic, and industry experts say altcoins can be even a lot more so.

“Chance can be measured in a assortment of diverse strategies,” Meltem Demirors, CoinShares chief method officer, earlier explained to CNBC Make It. But “many of these assets are substantially additional dangerous than bitcoin and ethereum.”

It truly is attainable to eliminate your total investment decision no matter of how careful you are.

However, Contessoto is even now bullish