Gene Simmons, The frontman of the hugely popular glam rock band KISS, revealed on the 18th of February through his Twitter account that he has invested a large sum of money into ADA Cardano.
Simmons had recently joined Elon Musk’s Dogecoin party via Twitter on the 7th of February when the meme-inspired cryptocurrency reached its highest ever peak of 0.084 USD.
The former KISS bassist and lead singer stated that he had acted on the decision to purchase 300,000 USD worth of Cardano (ADA) because he is convinced that the price will continue to rise. He went on further to say that he did not announce this because he wants everyone to do the same, he simply went for it based on his beliefs.
He gave his reasons for his investment in ADA stating that it was affordable to nearly everyone. In a series of tweets dedicated to Cardano, he stated that certain cryptocurrencies are like pennies compared to his other much bigger holdings such as Bitcoin (which has surpassed 55k today) and that he strongly believes in the potential of Cardano.
Aside from a promising future, the involvement of Charles Hoskinson, Ethereum co-founder was also what impressed the rockstar. Simmons also praised the Cardano founder for his goals to help developing economies in Africa.
Cardano is a digital ledger aimed at addressing the problems that can occur with Bitcoin and Ethereum, all the while, building a platform that is compatible with the conventional financial system of today.