Gene Simmons also popularly known as “The Demon” recently remarked that he is in cryptocurrency big time. Amidst the pitiful market conditions, where some believe we are in the phase called crypto winter, the decision by Simmons in favor of cryptocurrency certainly comes in as a ray of hope amongst such a crisis. Gene Simmons went on to comment that, he is a crypto holder and has not sold any of his 14 cryptocurrencies since the onset of the crypto winter.
In the past few weeks, the onset of crypto winter has saw the value of the market reduced by more than $1 Trillion. Most of the cryptocurrencies are down by at least 60%. Bitcoin, which is the most invested cryptocurrency is down by at least 70% and is currently trading at $20,665. The value of bitcoin is continuing its downward streak from the past seven days.
Legendary singer Gene Simmons comments.
Gene Simmons remarked recently that he was a hodler and even the downturn has not influenced him to sell any of his cryptocurrencies. He remarks that he has full faith in the future of the cryptocurrency.
Gene acknowledged that he has invested in 14 types of cryptocurrencies which include Bitcoin, Litecoin, Ethereum XRP, Dogecoin and Cardano. He also added that, he went on to purchase Cardano’s ADA worth $300,000 showing his faith in cryptocurrency.
Cardano – An idiot name!
Picture Credits: Investing.com
Simmons held a statement that he enjoys Cardano even though he feels its an idiot name. He went on to make a statement that stop calling it Cardano and call it by ADA or call it by using its trading symbol.
The Demon puts forward his vision for cryptocurrency.
Gene Simon happened to sell dogecoin earlier this year after Tesla’s CEO Elon Musk went on to tweet about the parody coin. But he claimed that, he is in cryptocurrency for long and believes to hold the cryptocurrency investments for at least a decade if not more.
Meanwhile, Grayscale founder Barry Silbert comments on the recent market downturn, stating that customers have already seen a lot of market slowdowns in bitcoin.
Conclusion:
The Demon’s claims and talks surely come in as a ray of hope for the investors and the players of crypto that there is some one out there feeling that cryptocurrency will be back to its feet and will regain its realm triumphing over the shattering market conditions.
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