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Gene Simmons Cardano’s investment ($ADA) Hits More than 133% Increase

Gene Simmons is the iconic bass player of the popular rock bank Kiss. Simmons invested $300,000 investment into Cardano (ADA) back in February. Currently, the fund is seeing a double in value.

Notably, Simmons makes some points during an interview on the Altcoin Daily YouTube channel. So, CoinDesk reports he holds 14 cryptocurrencies in total. While in the interview, Simmons criticizes the network..

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

Furthermore, Simmons goes on to say he still owns bitcoin, ether, litecoin, and other cryptos. Additionally, he highlights that BTC and ETH are the top two cryptoassets in his portfolio. Further revelations shows that he acquired BTC at around $10,000. Meanwhile, BTC is currently settling at around the $57,000 mark.

More so, Cardano ADA’s price skyrocketed over the last few months on the heels of the Alonzo hard fork rollout. Which of course, brings smart contracts to the network. Notably, ADA is up over 1,800% increase.

He makes some remarks about all his cryptoassets, saying “have done very well,”

Also, Simmons reveals he has 0.2% of the supply of two cryptocurrencies that can go up 1’-fold over time. However, He refused giving the name of these cryptocurrencies. While, saying he wants the price spike to be natural and not on sentimental basis.

Lastly, Simmons says he sold his position in DOGE when Tesla CEO Elon Musk tweeted about it.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.