Music star Gene Simmons buys Cardano (ADA) worth $300,000

Written by: Ali Raza
February 19, 2021
  • Gene Simmons has added Cardano to his cryptocurrency investment bag that includes BTC, ETH, and LTC.
  • More celebrities and investors turn to Cardano as the preferred investment vehicle.
  • There is increased interest on Cardano because of the price and expectations on the forthcoming Mary hardfork.

The leader of the famous Kiss Band Gene Simmons recently revealed to his over 900,000 followers that he had bought Cardano worth $300,000.

“I just bought $300,000 of CARDANO (ADA),” he said, adding that he is revealing it not because he wants to influence anyone to buy or not to buy the cryptocurrency. Simmons believes Cardano is going up and has decided to invest in the crypto coin, and others can also do their research to make whatever decisions they want.

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Simons also admitted he has made investments in the past in other cryptocurrencies such as Bitcoin, Litecoin, Binance Coin, and Ethereum. Cardano has no become the latest coin added to his cryptocurrency investment basket.

Other celebrities also have crypto interests

It’s not the first time a celebrity will be investing in cryptocurrency neither will it be the last as the market is still in an uptrend.

But some are even considering selling Bitcoin and buying Cardano. Popular YouTuber BitBoy recently announced his plans to sell his Bitcoin and use the fund to buy Cardano (ADA).  He already bought ADA tokens worth $500,000 after selling 10 Bitcoin.

BitBoy has over 500,000 subscribers on its YouTube Channel. His decision may influence some of his followers to go long on Cardano.

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Cardano attracts more investors

Bitcoin has performed exceptionally well since the turn of the year, gaining over 80% from under $30,000 to $51,000.

But while Bitcoin is getting all the headlines, other cryptocurrencies are also performing great. Some have even gained more percentage than Bitcoin since this year. In the first week of January, Cardano’s dollar value was a mere 18 cents. But the value has more than quadrupled, rising to almost a dollar from January till now.

Apart from Cardano’s impressive price, other fundamental factors are making the token more attractive to investors. The Cardano is a month away from its anticipated Mary hardfork, where it will be possible to create native tokens on the platform.

All these positive things happening around Cardano makes it an attractive investment chain for investors at the moment.