One reason Dogecoin millionaires are no longer millionaires Author: Tom Handy | The Capital | June 2021
Develop an exit strategy. Glauber has an exit strategy, but for me, it may take several years for him to see the return he wants. His exit plan is to sell 10% when Dogecoin is worth $10 million.
At some point this year, Glauber had more than $2 million in Dogecoin. To be honest, with $2 million, he can do many things with this money. Even if he sells and his income is taxed, he may have close to $1 million.
Whether he has US$2 million or US$10 million, ask yourself, what would you do with the money?
Earn passive income. You can retire and do many other things. Even if you reinvest funds in another cryptocurrency to make money from income agriculture or lending platforms, you can earn Glauber’s money because the cryptocurrency exists in his account.
Sell half and diversifyAnother option that the former Dogecoin millionaire could make is that he could have sold some assets during the peak period and then diversified his assets. He could have invested some money in another cryptocurrency.
Putting all his eggs in one cryptocurrency is like not putting all his eggs in one basket. Today there are some people who are maximizers of Bitcoin or Ethereum, but these cryptocurrencies are more valuable than Dogecoin.
Dogecoin is a risky bet for anyone / Glauber made a risky investment move 250,000 USD In February. He relied heavily on Redditt traders and watched Elon Musk’s Dogecoin tweets.
Personally, I would invest so much money cautiously, especially in a cryptocurrency.
Greed can sometimes overwhelm a person’s emotions.
If you had 10 million dollars, what would you really use it for?
Dogecoin is a risky investment. At some point, Glauber should sell and diversify his holdings. Putting all his eggs in one basket is risky. This may be good for him, and if the market changes, it may go wrong.
The cryptocurrency market changes every day. This is an immature market that is still evolving.
Glauber made a good move, and I hope everything goes well for him.
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