Kiss bassist Gene Simmons buys Cardano for $300,000

The Kiss bassist Gene Simmons has disclosed a $300,000 investment in Cardano (ADA).

I just bought $300,000 of CARDANO (ADA). I’m not a Financial Analyst and I’m not telling U to buy or not to buy. Simply letting U know what I am doing and what I believe in. Why? Because I believe it’s going up..and it’s always up to you to research & decide. pic.twitter.com/UiIqowJ4pY

— Gene Simmons (@genesimmons) February 19, 2021

Simmons said he chose the altcoin because it is much cheaper than the leading cryptocurrency and accessible to everyone.

“These are peanuts compared with my other assets, such as Bitcoin, which costs more than $50,000 per coin. I believe everyone should be able to afford cryptocurrency. And this is one of the ones I believe in,” wrote the musician.

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

According to CoinGecko, at the time of writing Cardano ranked sixth in the cryptocurrency market by capitalization, at about $29.7 billion. The ADA token trades around $0.93, having surged 150% in the last month.

Back in February, Gene Simmons bought bitcoins for a seven-figure sum. Earlier he invested in Dogecoin and XRP.

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