Last February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns. And investing money in obscure cryptocurrencies has, historically, been akin to tossing it onto a bonfire. But Mr. Contessoto, 33, who works at a Los Angeles hip-hop media company, is no ordinary buy-and-hold investor. In February, after reading a Reddit thread about Dogecoin’s potential, Mr. Contessoto decided to go all in. He maxed out his credit cards, borrowed money using Robinhood’s margin trading feature and spent everything he had on the digital currency — investing about $250,000 in all.

Source: New York Times May 14, 2021 06:56 UTC