The famous clothing brand Hoss Co. The owner of the meme coin project made an investment of $10,000 in Shiba Inu (SHIB) after initially trusting the community of the meme coin project, and 1% from that investment. It is reportedly generating 500 returns. Bride, Cryptocoin. com
Let’s take a look at the journey of the crypto entrepreneur we prepared as to the beginning of 2019.
Matthew Goldby got off the first meme coin train early
Hoss Co. ‘s owner, Matthew Goldby, decided to invest $4,000 of the company’s remaining $7,000 in a Shiba Inu (SHIB) earlier this year. The entrepreneur had held the rival meme-inspired cryptocurrency Dogecoin (DOGE) in 2019, but sold the funds before search interest for DOGE exploded ahead of a massive 10,000% price rally. After initial investment in SHIB, the company continued to accumulate tokens to the point where it stopped spending on advertising after the market crash in May of this year, and Goldby took over the Door Dash business to continue buying the dip. The firm stalled after investing $10,000 to purchase 4.5 billion SHIB. The tokens are currently worth $160,000.
In a video posted on TikTok, Hoss Co. showed the return on investment by sharing the performance of Shiba Inu in its portfolio. According to Goldby, the venture was struggling to be profitable and SHIB allowed it to take greater risks in its marketing campaigns. The company used some of the SHIB profits to pay photographers and editors, but is wary of tapping funds because it’s “more rewarding to keep.”