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Cryptocurrency : One reason the Dogecoin millionaire is no longer a millionaire

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Have an exit strategy. Glauber has an exit strategy, but for me, it could be years before he sees the comeback he wants. His exit plan is to sell 10% when Dogecoin is valued at $ 10 million.

At one point this year, Glauber had over $ 2 million in Dogecoin. Honestly, with $ 2 million, I could do a lot with that money. Even if you sold and your profits were taxed, you would probably have close to $ 1 million.

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Whether you have $ 2 million or $ 10 million, ask yourself, what would you do with the money?

Earn passive income. You could retire and do many other things. Even reinvesting the money in another cryptocurrency to earn money from yield farming or a lending platform would make Glauber money since the cryptocurrency is in his account.

Sell ​​half and diversify . Another option the former Dogecoin millionaire could make is that he could have sold something at the peak and then diversified his assets. You could have invested some of your money in another cryptocurrency.

Having all your eggs in one cryptocurrency is similar to not having all your eggs in one basket. Today there are some people who are maximalists of Bitcoin or Ethereum, but these cryptocurrencies have a little more value than Dogecoin.

Dogecoin can be a risky bet for anyone / Glauber made a risky move investing over $ 250,000 in February. It relied heavily on Redditt traders and seeing Elon Musk’s Dogecoin tweets.

Personally, I would be cautious when investing so much money, especially in a cryptocurrency.

There comes a time when greed takes over a person’s emotions.

If you had $ 10 million, what would you really do with it?

Dogecoin is a risky investment. At some point, Glauber should sell and diversify his holdings. Having all your eggs in one basket is risky. This could work well for him and it could go very wrong if the market changes.

The cryptocurrency market changes every day. This is an immature and still evolving market.

Glauber made a good move and I hope everything goes well for him.

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