Rocker Gene Simmons Announces $300,000 Investment in Cardano (ADA)

Gene Simmons, the iconic bass player of the popular rock bank Kiss, has announced he has invested $300,000 into Cardano (ADA), shortly after announcing positions in other cryptocurrencies including BTC, ETH, and DOGE.

 On social media, Simmons published a tweet announcing his investment and warning his 938,000 followers that he is not a financial analyst and isn’t telling them what to buy or not to buy, before saying he believes in the ADA project going up.

Simmons warned his followers it’s up to them to do their own research. In response to the tweet Cardano founder and Ethereum co-founder Charles Hoskinson welcomed the rocker to the ADA community and invited him to a private conversation in case he needed any support.

Shortly after Simmons announced the investment, the price of ADA went up. The celebrity quickly reacted to the movement saying his followers were already making the price of the cryptocurrency go up.

In several follow-up tweets, the investor expressed interest in Cardano because it was founded by an Ethereum co-founder, Hoskinson, who “envisions 2021 to be the most productive year in Cardano’s history yet,” according to a quote he tweeted.

Responding to a user who claimed Cardano was a “sleeping giant,” Simmons said it “might very well be.” Cardano was designed and developed by IHOK in conjunction with the University of Edinburgh, the University of Athens and the University of Connecticut, and is the world’s first peer-reviewed blockchain.

Gene Simmons, it’s worth noting, joined Elon Musk’s tweets about Dogecoin earlier this month and said he made a “six-figure” investment in DOGE. The rocker has said he also invested in ETH when it was trading at $300, and $300,000 in Binance Coin (BNB).

Reacting to his tweets several users warned that Gene can afford to invest in these altcoins the way he does, as he has an estimated net worth of $400 million.

Then, on Saturday, Simmons tweeted that his comments about cryptocurrencies he has invested in were not meant to be any kind of financial or investment advice:

bitcoin
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cardano
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