Gene Simmons, the bassist of the legendary rock band Kiss, has been intermittently sharing his thoughts and investments in Bitcoin and altcoin projects since the beginning of 2021. Now, he has included altcoin investments and expectations in a program he participated in. Here are the details…
Simmons’ Bitcoin and altcoin investments “done well”
cryptocoin.com As we reported, Kiss bassist Gene Simmons tweeted that he bought $300,000 from Cardano’s ADA in February, writing that cryptocurrency is “something he believes in”. That investment turned into a fortune for the rocker – the price of ADA has more than doubled since then. So if Simmons didn’t sell what he had, his ADA investment would be worth over $700,000.
In an interview on the Altcoin Daily YouTube channel on Sunday, he said that ADA is one of 14 cryptocurrencies he owns. “I love Cardano even though it’s a silly name,” Simmons said. “Let them get rid of that thing (Cardano). Just say ADA. Name it by the trade name,” he said. In a YouTube interview, Simmons said he has Bitcoin, Ethereum, and Litecoin — among others. It is also known to invest in Polkadot, Uniswap’s tokens. He said he bought it when the Bitcoin price was around $10,000. BTC is trading just above $57,000. “All my cryptos have done very well,” Simmons said.
Simmons plans to hold cryptos for 10 years
The musician, once known as the stage personality “The Demon,” said he bought 0.2 percent of two cryptocurrencies he thought would increase 10x. He declined to name these cryptos because then he stated that prices would likely pump, adding that “there will be a lot of short sellers.” “I want the ascent to be natural,” Simmons said. He said he’s a “moderate fan” of Charles Hoskinson, the lead developer of Cardano Blockchain. “You live and die by the people who run the company,” Simmons said.
He said that BTC and ETH are the two largest cryptocurrencies in his portfolio on a percentage basis. While he sold his Dogecoin (DOGE) earlier this year after Tesla CEO Elon Musk tweeted, he said he plans to hold the remaining cryptocurrencies for at least ten years. Simmons says, “Do your own research. For the sake of complete explanation, nothing I say makes any sense. Please ignore me. “I’m not giving advice to anyone,” he said.
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