Mr. Contessoto, an affable, bearded hip-hop fan who goes by the nickname Jaysn Prolifiq, is a first-generation immigrant whose parents came to the United States from Brazil when he was 6. As a child in suburban Maryland, he saw his family struggling with money, and he vowed to become rich. He discovered a love of hip-hop music as a teenager, and after school, he moved to Los Angeles, where he took a job making $36,000 a year as an entry-level video editor while trying to book gigs for an up-and-coming rapper he knew.
His dream was to save up enough money to buy a house — one where he and his hip-hop friends could live while making music together. But that kind of cash was elusive, and he spent several years crashing on couches while trying to save enough for a down payment.
In 2019, he started buying stocks on Robinhood, the commission-free trading app. He stuck to big, well-known companies like Tesla and Uber, and when those trades made money, he bought more. And in January 2021, he watched in fascination as a group of traders on Reddit successfully boosted the stock price of GameStop, squeezing the hedge funds that had bet against the video game retailer and making millions for themselves in the process. (He tried to get in on the GameStop trade but he was too late, and he ended up losing most of his stake.)
Shortly after the GameStop saga, Mr. Contessoto was browsing Reddit when he saw a post about Dogecoin. He’d heard of the currency before. (Elon Musk, who is to Dogecoin fans roughly what Pope Francis is to Catholics, had called it the “people’s crypto.”) But as he did more research, he became convinced that Dogecoin’s jokey, approachable image might make it the next GameStop.
New York Times - Kevin Roose
And the rest my friends, is much wow history.