Altcoins Rise And Gene Simmons Sees Cardano Investment Double

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Last Updated on 13 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Altcoins are back in fashion today as Bitcoin (trading at $55,100 at the time of writing) takes a breather. Several altcoins are seeing rises of more than 5%, among them Binance Coin (15%) and PancakeSwap (14%).

Kiss singer Gene Simmons was interviewed earlier this week about the crypto investments he announced in February of this year and admitted they had increased his net worth considerably.

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Cardano is an idiot name

Back in February of this year it looked like the whole world was going crypto crazy. The stock market focused on terms like WallStreetBets, SatoshiStreetBets, on Elon Musk coming out as a Bitcoin fan and (false reports that) the silver market was getting short squeezed.

In the midst of all that, Kiss singer Gene Simmons, widely seen as a good investor by many of his generational fans, was buying into crypto. In a series of tweets to his followers, he admitted that he bought into Dogecoin, XRP, Ethereum and others. Gene ended with make of it what you will.

A few weeks after that, he admitted his greatest crypto investment to date and said he purchased some $300k worth of Cardano, saying the cryptocurrency created by Charles Hoskinson was one I believe in.

YouTube video

Fast forward some 8 months and speaking on a crypto podcast this week, the Kiss singer admitted that his initial investment has more than doubled since then. ADA is only one of 14 cryptocurrencies Simmons now owns, and seeing the coin do so well has made him invest millions into other digital coins.

Simmons said:

I like Cardano, although it’s an idiot name. Get rid of that thing. Just call it ADA. Call it by the trading name.