March 4, 2021

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Gene Simmons has bought Cardano

3 min read

Gene Simmons has bought Cardano. The leader of the legendary Kiss band has invested a whopping $300,000 in ADA. 

He announced it himself via Twitter:

In the post, Gene Simmons has the humility to say that he does not consider himself a financial analyst, so his tweet is not to be considered investment advice: 

“I’m not a Financial Analyst and I’m not telling U to buy or not to buy. Simply letting U know what I am doing and what I believe in. Why? Because I believe it’s going up..and it’s always up to you to research & decide”.

Gene Simmons and the other celebrities who choose Cardano

Just a few days ago, Gene Simmons told his 900,000 followers about his cryptocurrency purchases. He admitted to already owning BItcoin, Ethereum, Binance Coin and Litecoin. Cardano has now been added to this basket.

But he is not the only celebrity who has chosen Cardano: BitBoy Crypto has also announced on his YouTube channel, which boasts an impressive 500,000 subscribers, that he will sell Bitcoin to buy Cardano. Indeed he has already done so: he has sold 10 bitcoin, currently worth $500,000, to buy ADA. 

Indeed, Bitcoin’s performance since the beginning of 2021 has been excellent, rising from $30,000 to $51,000, an 80% gain. But other cryptocurrencies, including Cardano, are doing even better. At the beginning of the year, Cardano was worth 18 cents on the dollar: in a month and a half, it has soared to its current 90 cents, multiplying its price by 4.5 times. 

The price is not the only thing that makes Cardano attractive.

In March there will be the Mary hardfork, which will add an update to allow the creation of native tokens on Cardano, the first step towards the Goguen phase. 

Also on March 31st, the blockchain’s d-parameter will go to zero, meaning that all blocks will be produced by stake pool operators and no longer by IOHK, a process that will make the blockchain fully decentralized.

Finally, a rumour is circulating again: Cardano may soon be listed on Coinbase. As is well known, when a token is listed on Coinbase, it tends to increase in price. But we will probably have to wait for the next few months. This rumour actually already spread back in July 2020, leaving fans with the hope that the listing could happen by the end of the year. 

Cardano is also reportedly working on a major expansion project in Africa. While there is no official confirmation from either IOHK or CEO Charles Hoskinson, what emerges from John O’Connor, director of Africa operations for IOHK, is that Cardano is working towards millions of users in Africa.

This strong expansion, accompanied by plenty of other news, explains the enthusiasm that is surrounding Cardano

The post Gene Simmons has bought Cardano appeared first on The Cryptonomist.







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