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 of finance and cryptography.
Rock Legend Gene Simmons Holds Crypto Despite Market Selloff & 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 the cryptocurrency exchange FTX. “I’m deep into crypto. I believe in it,” confirmed the rock legend. Noting that he holds several cryptocurrencies, including bitcoin and ethereum, Simmons emphasized, “Personally, I hold, but everyone should do their own due diligence.”
Gene Simmons says he’s ‘deep in crypto’
Rock legend Gene Simmons confirmed on Thursday that he still holds cryptocurrencies despite the crypto winter and the collapse of the 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 founded with lead singer and guitarist Paul Stanley.
In response to a question from the Crypto Housewife at his Moneybag Vodka launch event in Alberta, Canada, about whether he is “still holding onto” his cryptocurrencies, Simmons said: “Well, I’m not going to suggest or recommend anything. I’m not a financial advisor.” The rock legend added:
But since you’re asking me, yes, I’m deep into crypto. I believe in it. I have bitcoin, litecoin, ethereum, quite a few others… Personally, I hold, but everyone should do their own due diligence.
Meanwhile, the price of bitcoin is down around 64% year-to-date, while ether has fallen 66%. The crypto industry has suffered several major explosions 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 has previously revealed that he owns 14 cryptocurrencies. In June, he said that he has not sold any of his coins despite the downturn in the crypto market.
In an interview with American Songwriter in May, Simmons said that he most often thought about cryptocurrency. “Governments, as you know by now, print money when they need to. So the inflation keeps getting bigger and bigger,” the rock legend described, elaborating:
Yes, it’s a game-changer. I’m big on it. I have done very well.
What do you think of Gene Simmons’ crypto comments? Let us know in the comments section below.
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