Dogecoin Investor Glauber Contessoto Questions the Financial Wisdom of Owning Tesla Electric Vehicles

Glauber Contessoto, a well-known Dogecoin DOGE/USD investor, questioned the financial wisdom behind owning Tesla Inc. TSLA electric vehicles

A well-known Dogecoin (CRYPTO: DOGE) investor questioned the financial wisdom behind owning Tesla (NASDAQ:TSLA) Inc. electric vehicles, sparking a debate on the value of early adoption.

Glauber Contessoto, popularly known as SlumDOGE Millionaire, took to Twitter (NYSE:TWTR) on Wednesday to point out the drastic drop in prices of EVs manufactured by the tech giant, particularly the Model Plaid X and Model Y.

His comments came in reaction to X user Teslaconomics, who called buying any vehicle other than a Tesla “financial suicide.”

“Ask any early Plaid X owner that paid $160k for their car how they feel about it now that you can buy one for $93k,” Contessoto said. “Ask anyone that paid $70k for their Model Y if it was a smart financial decision now that you can buy one for $44k.”

Users countered his argument saying early tech costs more, and value depreciation is inevitable.

Updated pricing available on Tesla's website showed Model X Plaid valued at $92,990, while Model Y dual-motor AWD, Long Range priced at $47,990.

SlumDOGE Millionaire is known to be a Tesla bull and expressed confidence that it'll become the world's most valuable company by 2028.

The trader gained fame for his early and unwavering belief in Dogecoin. He has previously emphasized the importance of conviction in cryptocurrency investments.

Like other members of the DOGE fanbase, SlumDOGE Millionaire is a strong supporter of the memecoin’s incorporation as a payment method within Tesla. The belief has grown in response to Tesla CEO Elon Musk’s frequent social media posts on the cryptocurrency.

DOGE Price Action: At the time of writing, Dogecoin was trading at $0.1078, down 1.9% in the last 24 hours, according to data from Benzinga Pro.

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