A director working for Netflix reportedly made a fortune by investing $4 million of the company’s budget into Dogecoin, the meme-inspired cryptocurrency. According to a report by Cointelegraph, the director, who wished to remain anonymous, said he was inspired by the viral NFT of the original Doge photo that sold for $4 million in June.
The director told Cointelegraph that he was in charge of a project with a budget of $20 million, which was supposed to be released in late 2023. However, he decided to take a gamble and use $4 million of the budget to buy Dogecoin at an average price of $0.05 in March 2023. He said he was confident that the price of Dogecoin would skyrocket after Elon Musk, the CEO of Tesla and SpaceX, announced that he would send a Doge-themed satellite to the moon in 2024.
The director said he kept his investment a secret from Netflix and his colleagues, and hoped that he would be able to return the money with interest before the project deadline. He said he was prepared to face the consequences if his plan failed, but he was also optimistic that he would be rewarded for his boldness.
How the director cashed out his profits
The director’s gamble paid off when Dogecoin reached an all-time high of $0.69 on April 20, 2023, a date that coincided with the 4/20 cannabis culture celebration and the Doge Day online campaign. The director said he sold all his Dogecoin holdings on that day, making a profit of $23 million. He said he immediately transferred $4 million back to Netflix, and kept the rest for himself.
The director said he was relieved that he was able to pull off the risky move without being caught, and that he did not regret his decision. He said he planned to use his profits to buy more NFTs, invest in other cryptocurrencies, and donate to some charities. He said he was also considering quitting his job at Netflix and pursuing his own projects.
How Netflix reacted to the director’s stunt
The director said he did not tell Netflix or his colleagues about his Dogecoin investment, and that he pretended that he had used the $4 million for some legitimate expenses. He said he was not sure if Netflix would ever find out about his stunt, but he hoped that they would not be too angry with him. He said he believed that he had done nothing wrong, and that he had actually benefited Netflix by returning the money with interest.
Netflix did not respond to Cointelegraph’s request for comment on the director’s story. However, some sources within the company said that they were suspicious of the director’s spending, and that they were investigating his accounts. They said that if the director’s story was true, he would face serious legal and ethical consequences, and that he would be fired from Netflix.
How the crypto community reacted to the director’s story
The director’s story sparked a lot of reactions from the crypto community, with some praising him for his courage and luck, and others criticizing him for his irresponsibility and greed. Some Dogecoin fans said that the director was a hero and a legend, and that he had shown the true spirit of Dogecoin. They said that the director had proved that Dogecoin was not a joke, but a viable investment option.
However, some crypto experts said that the director was a fool and a scammer, and that he had risked his career and reputation for a short-term gain. They said that the director had violated the trust and the contract of Netflix, and that he had exposed himself to legal and tax liabilities. They said that the director had also endangered the future of Dogecoin, by creating a bad image for the cryptocurrency and inviting more regulation and scrutiny.