In a report, Mr Guzman added how after the $ 0.56 (£0.40) price that Dogecoin appeared to stabilise around on Tuesday, the bet would now be worth $ 103,703 (£74,603.42).
He cited that the US Census Bureau reported the average American household income is at $ 69,000 (£49,638.25).
It means the $ 1000 (£719.39) bet at the start of 2021 on Dogecoin could have created by about 1.5-times the average US household income in just five months, according to Mr Guzman.
On its Twitter account, Dogecoin describes itself as “an open source peer-to-peer digital currency, favoured by Shiba Inus worldwide”.
Elon Musk, SpaceX and Tesla CEO, is one of the most prominent supporters of Dogecoin.
After tweeting about the cryptocurrency to his 50 million followers in April, Mr Musk reportedly sent the price of Dogecoin soaring.
This post originally appeared on Daily Express :: Finance Feed