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Kiss' Gene Simmons Buys $300,000 Worth of Cardano
The Kiss bassist and frontman says he believes in Cardano because of its affordability compared with other cryptocurrencies.
Rock star Gene Simmons has voiced his support for cardano (ADA) on Twitter after tweeting that he has purchased $300,000 of the cryptocurrency.
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- The Kiss bassist and frontman has stated that he believes in cardano thanks to its affordability compared with other cryptocurrencies, and has bought $300,000 worth of it.
- Cardano's native token ADA is currently priced at $0.92 and is the sixth-largest cryptocurrency by market capitalization at almost $29 billion.
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. pic.twitter.com/fyLvNzKm5Q
— Gene Simmons (@genesimmons) February 19, 2021
- Cardano is a blockchain that aims to address the scaling problems of Bitcoin, while also creating a platform for smart contracts that is interoperable with the mainstream financial system. ADA has risen more than 400% year to date.
- Simmons later praised Cardano founder Charles Hoskinson's goal of helping develop emerging economies in Africa.
- The Kiss co-founder also stressed to his followers the importance of doing their own research before investing and pushed back at those who accused him of being compensated for his crypto endorsements.
- Simmons has previously revealed that he has holdings in bitcoin, ethereum, litecoin and other virtual currencies and also has declared himself the "God of Dogecoin."
How about you get a little less cynical. And do your own research, and make your own decisions. https://t.co/1rH1braXpU
— Gene Simmons (@genesimmons) February 19, 2021
See also: How Dogecoin Became So Popular
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
