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‘I went in big, I put in a few million into Bitcoin…’

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American musician, lead singer, and bassist for the rock band Kiss, Gene Simmons, has been very vocal about his affinity towards cryptocurrencies. From proclaiming himself as the ‘God of Dogecoin‘ to investing in other crypto tokens- the rock legend isn’t shy about voicing his support for the crypto market.

In a CNBC interview, Simmons weighed in on the crypto craze as well disclosed his crypto portfolio. Simmons, a BTC proponent entered the market frenzy when it traded at around $10k; he added that he invested a significant chunk of his wealth,

“I went in big, I put in a few million into BTC when it was around $10k…I loved the ride till $64k or so and I’m what’s called a #HODLer”

Simmons acknowledged that he got into crypto because of a call he made to Tyler Winklevoss at the beginning of the pandemic. Moreover, the lead bassist believes that “Bitcoin will be trading at $55,000 to 60,000 by the beginning of next year”. He added:

“I’m all in, I’m putting all in. When there was a big dip and it went down…I’ve put in more.”

Buying the dip(s) amidst a market correction was his strategy. Apart from BTC, the musician owns Ethereum, Cardano, Polkadot, and Uniswap.

Simmons further addressed the advantage crypto posed. He said “every single trade, every movement of any kind has a digital fingerprint” which makes it easier to tax it than gold.

Lately, other celebrities too expressed their support for cryptocurrencies especially Bitcoin. For instance, famed YouTube star KSI opined,

“I’d give everyone £100 worth of Bitcoin – like a Bitcoin stimulus package for all. I’m really into crypto. I think Bitcoin is the future. It’s definitely going to be long-term”

At press time, BTC was trading above the $45k mark with a surge of about 17% within a week.

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Shubham is a full-time journalist at AMBCrypto. A Master's graduate in Accounting and Finance, Shubham's writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.