Bitcoin

KISS rocker Gene Simmons advocates for cryptocurrency

On Twitter, Cameron Winklevoss spoke about the need for better financial inclusion of cryptocurrencies.

Co-founder of the KISS group, Gene Simmons has expressed his support for Mr Winklevoss.

Mr. Simmons is not new to cryptocurrency, nor to investing

Gene Simmons, co-founder, former bassist and co-singer of rock band KISS, has a soft spot for cryptocurrencies.

Mr Simmons, who is no stranger to Crypto Method, responded to a tweet from Cameron Winklevoss in which the Gemini co-founder challenged the industry to make it easier to buy BTC and ETH.

Mr Winklevoss, in his conversation thread on Twitter, identified the biggest challenges the crypto industry faces, and it’s not the DeFi space. He stated :

But getting people into this new system is the biggest challenge we face as an industry.

Cameron Winklevoss noted that users find it easier to buy Bitcoin or ETH using existing financial systems than if they don’t have a bank account at all. In such a case, it would be “difficult to bring funds into the crypto sector”.

As the manager of a cryptocurrency exchange, he probably knows what he’s talking about. The billionaire Bitcoin thus urged the crypto community to change the situation.

Gene Simmons is up to the challenge, and has answered Winklevoss‘ call to act. The legendary KISS member, who has nearly 900,000 followers on Twitter, however was silent on details.

It is not yet known whether he really got caught up in the game. The crypto community has applauded him for being an advocate of hard money such as Bitcoin, however.

I will do it. I do it

The fixed supply of 21 million BTC has become one of its key features of Bitcoin, especially as global central banks feverishly print fiat currencies . A new wave of fear of missing out on an opportunity (FOMO) seems to be taking shape.

A bitcoin shortage is coming soon.

Rising crypto demand

Lately, the demand for digital goods has increased among institutional and retail investors. For example, the company MicroStrategy

, a publicly traded company with a market capitalization of $ 1.4 billion, revealed on September 14 that it had just purchased 16,796 bitcoins.
This brings its annual total to 38,250 bitcoins for an amount of $ 425 million including fees and expenses.

On September 14, 2020, MicroStrategy completed the acquisition of an additional 16,796 bitcoins for an aggregate purchase price of $ 175 million. To date, we have purchased a total of 38,250 bitcoins for an aggregate purchase price of $ 425 million including fees and expenses.

And it’s not just about institutions. Jim Cramer, host of CNBC’s “Mad Money”, also took the plunge, telling Cameron’s brother Tyler Winklevoss that he was hoarding BTC in a fund for his children’s financial security. .

Another Wall Street legend, @jimcramer, is a follower of #Bitcoin. Jim, Paul Tudor Jones, and so many other seasoned investors understand that this is your best hedge against inflation. Booyah!

A feeling of déjà vu

This is not Mr. Simmons‘ first crypto rodeo. Fate wanted him to tell TheStreet, founded by Jim Cramer, the new Bitcoin bull, that he was interested in Bitcoin in 2017 as “a piece of the puzzle”.

He prided himself on a diversified portfolio, saying the right way to invest is to spread the risk across multiple assets, much like a person betting in Las Vegas. He even expressed interest in a future KISS coin at the time, before the ICO bubble burst.