Two brothers told the story of how they became millionaires after investing in Shiba Inu, the cryptocurrency nicknamed “Dogecoin Killer”, for almost two months. Before investing, the Covid-19 pandemic nearly brought business to a standstill and the government’s economic reviews didn’t last long.
Shiba Inu Crypto Investors Become Millionaires
Two brothers from Westchester, New York, shared their story of how they went from near-jobless and relying on government stimulus checks to multimillionaires by investing in cryptocurrency, CNN reported on Friday.
At the end of February, 38-year-old Tommy and 42-year-old James each put 200 US dollars in Shiba Inu (SHIB), the ERC-20 token with the nickname “Dogecoin killer”. A Shiba Inu coin was worth a fraction of a dime at the time, but one of their friends, whom they referred to as “crypto experts,” told them the coin could be a big money maker. In just two months, the brothers became millionaires.
Before investing, Tommy said:
I’ve been thinking about bitcoin – that was once a fraction of a penny and now it’s tens of thousands of dollars and that happens to people, it’s possible. I trusted my friend and thought if it goes to zero it is fine. I viewed it as a lottery ticket that didn’t expire.
The brothers also presented their investment idea to their mother, father, sister and some other family members.
“My mother and sister were skeptical, but they also invested $ 100 each. After a couple of weeks that were up 300%, they pocketed another $ 100 each and then it kept going up, ”Tommy recalled. He added that they invested around $ 7,900 in total and were worth nearly $ 9 million as of Thursday.
Before the coronavirus pandemic, the brothers made a living filming weddings. However, the Covid-19 outbreak nearly brought their business to a standstill. Instead of booking 30-40 weddings this year, James said they only did eight weddings.
We kind of fell through the cracks. The government economic reviews were not enough to support us. I’m a positive person but it was really difficult not knowing that the future was scary.
However, her Shiba Inu crypto investment continued to grow. After it rose to $ 100,000, it climbed further, describing Tommy, and explaining:
We woke up the next morning and it doubled. We said, “Oh my god.” Then it went up to $ 700,000 and I told my brother it was going to hit a million. I kept updating my phone.
The next day their investment reached $ 1 million. “The day it hit a million – my mom and sister didn’t think it was real,” he recalled.
Bitcoin News recently reported that some other people became millionaires by investing in cryptocurrency. In April, a Dogecoin investor became a millionaire after investing in DOGE for two months. After taking inspiration from Elon Musk, CEO of Tesla, he got into meme cryptocurrency. Last week, a Goldman Sachs executive reportedly quit the investment bank after making millions in Dogecoin.
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