Rock legend Gene Simmons has declared that he is still into cryptocurrencies, despite the current market downturn and the recent collapse of the FTX trading platform. At a Moneybag Vodka launch event in Alberta, Canada, the KISS frontman stated that he continues to hold multiple digital assets, including bitcoin and litecoin. He further stressed that everyone should do their own research before investing in cryptocurrency.
Gene Simmons Stands by Cryptocurrency
Gene Simmons, the co-founder and lead singer of the rock band KISS, confirmed Thursday that he still holds cryptocurrencies despite the current bear market and the implosion of cryptocurrency exchange FTX. The Israeli-American singer, songwriter, actor, and producer is best known for his work in the popular rock band.
In response to a question by the Crypto Housewife at the Moneybag Vodka launch event, Simmons said: “Well, I’m not going to suggest or recommend anything. I’m not a financial advisor.” Continuing, the Rock and Roll Hall of Fame inductee stated:
But since you asked, yes, I’m into crypto. That is what I believe. I have bitcoin, and litecoin. Personally, I’m You don’t have to wait, but you should all do your research.
The bitcoin price has dropped 64% over the past year, while ether’s has fallen 66%. This year has seen several major busts in the crypto industry, including the implosion of Terra Blockchain in May and the implosion of FTX last month.
FTX, Compute North, Voyager Digital, Celsius Network, Three Arrows Capital, and Blockfi have all filed for bankruptcy after experiencing financial difficulties. An estimated one million customers lost billions in the FTX meltdown.
It was previously revealed that Simmons holds 14 cryptocurrencies. In June, he said that, despite the cryptocurrency crash, he had not sold any coins.
“Governments, as you know, now print money when they need it. So, inflation keeps growing more and more”, explained Simmons in an interview with American Songwriter in May. “Yes, it is a gamechanger. I’m in this big. It was a great experience.”
What are your thoughts on Gene Simmons’ crypto comments? Please let us know in the comment section below.
Images credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It does not constitute a solicitation or offer to buy, sell, or a recommendation, endorsement, or sponsorship of any product or company. Bitcoin.com does NOT provide advice on investment, tax, legal and accounting matters. Neither the author nor the company is responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services in this article.
