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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.
Updated Sep 14, 2021, 12:14 p.m. Published Feb 19, 2021, 1:00 p.m.
Rock star Gene Simmons has voiced his support for 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
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