The $300,000 investment in Cardano (ADA) that Gene Simmons, the iconic bass player of the popular rock bank Kiss, made again in February, has reportedly more than doubled in value.
Simmons revealed throughout an interview on the Altcoin Daily YouTube channel, as reported by CoinDesk, he holds 14 cryptocurrencies in total. Throughout the interview, Simmons had some criticism for the network, saying:
I like Cardano, though it’s an idiot name. Get rid of that factor. Simply name it ADA. Name it by the trading name.
Simmons additionally mentioned he still owns bitcoin, ether, litecoin, and other crypto assets. On a percentage basis, he revealed, BTC and ETH are the highest two crypto assets in his portfolio. The rocker noted that he purchased BTC when the cryptocurrency was buying and selling around $10,000. In response to CryptoCompare data, BTC is hovering across the $57,000 mark at the time of writing.
Cardano’s ADA has seen its worth surge over the last few months over the Alonzo hard fork rollout, which launched smart contracts to the network. Within the last 12 months, ADA is up over 1800%. Since Gene Simmons invested, it has more than doubled.
He added all his crypto assets “have achieved very well,” and revealed he purchased 0.2% of the supply of two cryptocurrencies that have the potential to go up 1’-fold over time. Simmons declined to call these cryptocurrencies as he wants the value to increase too rising “to be natural” and needs to avoid short-sellers affecting them.