Rock Legend Gene Simmons Is Holding Crypto Despite Market Sell-Offs and FTX Collapse – Featured Bitcoin News


Rock band Kiss’ lead singer Gene Simmons has confirmed that he is still holding crypto despite the crypto winter and the collapse of cryptocurrency exchange FTX. “I’m deep in crypto. I believe in it,” the rock legend affirmed. Noting that he has several cryptocurrencies, including bitcoin and ethereum, Simmons stressed: “Personally, I’m holding, but everybody should do their own due diligence.”

Gene Simmons Says He’s ‘Deep in Crypto’

Rock legend Gene Simmons confirmed Thursday that he is still holding cryptocurrencies despite the crypto winter and the collapse of crypto exchange FTX. Simmons is an Israeli-born American musician, singer, songwriter, actor, and producer. He was the frontman, bassist, and co-lead singer of Kiss, the rock band he co-founded with lead singer and guitarist Paul Stanley.

Responding to a question from Crypto Housewife at his Moneybag Vodka launch event in Alberta, Canada, about whether he is “still hodling” his cryptocurrencies, Simmons said: “Well, I’m not gonna suggest or recommend anything. I’m not a financial advisor.” The rock legend added:

But since you’re asking me, yes, I’m deep in crypto. I believe in it. I’ve got bitcoin, litecoin, ethereum, quite a few others … Personally, I’m holding, but everybody should do their own due diligence.

Meanwhile, the price of bitcoin is down about 64% year-to-date while ether has fallen 66%. The crypto industry has suffered several major blowups this year, including the Terra blockchain implosion in May and the FTX collapse last month.

FTX, Compute North, Voyager Digital, Celsius Network, Three Arrows Capital, and Blockfi have all filed for bankruptcy protection after dealing with financial problems. An estimated one million customers have lost billions of dollars in the FTX meltdown.

Simmons previously revealed that he owns 14 cryptocurrencies. In June, he said he hasn’t sold any of his coins despite the crypto market downturn.

In an interview with American Songwriter in May, Simmons said he found himself thinking about cryptocurrency most often. “Governments, as you know now print money whenever they need it. So, inflation keeps getting bigger and bigger,” the rock legend described, elaborating:

Yeah, it’s a game changer. I’m in it big. I’ve done very well.

What do you think about the crypto comments by Gene Simmons? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

Leave a Comment