Kiss bassist Gene Simmons is making a large bet on the sixth largest crypto by market cap.
In a new tweet, the famed musician tells his 940,500 followers that he purchased hundreds of thousands of dollars worth of Cardano (ADA).
“I just bought $300,000 of Cardano (ADA). I’m not a financial analyst and I’m not telling you to buy or not to buy. Simply letting you know what I am doing and what I believe in. Why? Because I believe it’s going up… and it’s always up to you to research & decide.
Why did I buy Cardano (ADA)? Well, for one thing, it’s affordable to almost everyone. It’s pennies compared to my other holdings like Bitcoin, which is over $50,000 a single coin. I believe everyone should be able to afford cryptocurrency. And here is one I believe in.”
Simmons says he also believes in the project because it is backed by one of the Ethereum co-founders, Charles Hoskinson.
This is another reason I believe in 🚀 ADA (Cardano) 🚀… https://t.co/oNXLCuFuEg
— Gene Simmons (@genesimmons) February 19, 2021
At the time of Simmons’ tweets, ADA was sitting at around $0.90 cents, but it has since skyrocketed to a new 52-week high of $1.09.
Earlier this month, the rock icon revealed that he owns or plans to own three large-cap crypto assets.
“I’m not recommending any of this to anyone. But yes, I bought and/or will own Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and others.”
As for his BTC holdings, Simmons says he invested millions of dollars in the leading crypto asset.
“Bitcoin I bought seven-figure months ago. It’s been very good to me. Do I believe it’s going even higher than the recent record breaking surges? You bet!”
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Featured Image: Shutterstock/Tiziano Cardaci