Two brothers have shared the story of how they became millionaires after investing in Shiba Inu, the cryptocurrency nicknamed â€œdogecoin killer,â€ for just under two months. Before the investment, the covid-19 pandemic almost killed their business, and the governmentâ€™s stimulus checks did not last long.
Shiba Inu Crypto Investors Become Millionaires
Two brothers from Westchester, New York, have shared their story of how they went from nearly jobless, and relying on the governmentâ€™s stimulus checks, to becoming multimillionaires by investing in cryptocurrency, CNN reported Friday.
Tommy, 38, and James, 42, put $200 each into Shiba Inu (SHIB), the ERC-20 token nicknamed â€œdogecoin killer,â€ in late February. One Shiba Inu coin was worth a fraction of a cent at the time but one of their friends, whom they called â€œa crypto expert,â€ told them that the coin could be a big moneymaker. In just two months, the brothers became millionaires.
Before investing, Tommy said:
The brothers also presented their investment idea to their mom, dad, sister, and a few other family members.
â€œMy mother and sister were skeptical but they each put in $100, too. After a few weeks when it was up about 300% they put another $100 in each, and then it kept going up,â€ Tommy recalled. He added that in total they invested about $7,900 altogether and as of Thursday, their investment was worth almost $9 million.
Prior to the coronavirus pandemic, the brothers made a living by filming weddings. However, the Covid-19 outbreak nearly shuttered their business. Instead of booking 30-40 weddings that year, James said they only did eight weddings.
Their Shiba Inu crypto investment, however, kept rising. After it shot up to $100K, it kept climbing, Tommy described, elaborating:
The next day, their investment hit a million dollars. â€œThe day it hit a million â€” my mom and sister, they didnâ€™t think it was real,â€ he recalled.
Bitcoin News recently reported on a few other people becoming millionaires by investing in cryptocurrency. In April, a dogecoin investor became a millionaire after investing in DOGE for two months. He got into the meme cryptocurrency after being inspired by Tesla CEO Elon Musk. Last week, a Goldman Sachs executive reportedly left the investment bank after making millions of dollars in dogecoin.
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