KISS’ Gene Simmons has explained how he embarked on his cryptocurrency journey in a CNBC interview and revealed that he went in big.
Along with his musical efforts, Gene Simmons is also keenly interested in cryptocurrencies. According to one of his tweets, he has a seven-figure Bitcoin fortune. Describing himself as the ‘God Of Dogecoin,’ Gene Simmons has holdings in Bitcoin, Ethereum, Litecoin, XRP, and other virtual currencies.
Gene Simmons recently made an appearance in a CNBC interview and talked about his investments and how he embarked on this journey. He stated that he started investing in Bitcoin after talking to Tyler Winklevoss at the beginning of the pandemic and said he gave him a quick guide. Simmons then revealed that he went in big as he put a few million dollars into Bitcoin when it was around $10,000.
Describing himself as an ‘hodler,’ Simmons also argued that Bitcoin will be trading at $60,000 by the beginning of next year. So due to his predictions, he claimed that he is going to be investing more into Bitcoin. Simmons also said he trusts Ethereum, and he invested in it either. Following that, he argued that it is easier to tax cryptocurrencies than gold as crypto leaves a digital fingerprint.
Simmons told CNBC how he started his investments that:
“I was very lucky because Tyler Winklevoss was kind enough to take my call back at the beginning of the pandemic. It was just sort of quick educational notes that we used to have in school that gave us a shortcut. I went in big, I’ve put in a few million into bitcoin when it was around $10,000. I’d love to ride up to $64,000 or so.
And I’m what’s called a hodler for those great unwashed masses who may not be educated. What is hodl? Find out! It’s a cultural language that’s created by the cryptocurrency kids and it’s a misspelling of the word hold. I’m a hodler I believe, in the long run.”
He then revealed his predictions about cryptocurrencies:
“By the beginning of next year will be at $55,000 to $60,000 So I’m all in, I’m putting more in. When there was a big dip and it went down to under $30,000 or something I’ve put in more. I believe in Ethereum, I went in at about $900, now it’s $3,000 something. I have about 14 of them.
Look, I believe in crypto because I just want to cut to the chase. If I had a bar of gold and I wanted to sell it for you and I want cash, the government’s not going to know about it, unfortunately.
It’s easier to get a gun than to fight legislators about trying to tie our hands in crypto. See, every single trade and every single purchase, any movement of any kind has a digital fingerprint. So, you’ll be able to tax everybody and make money whereas if somebody out there sells a bar of gold and takes cash, you’re left out in the cold.”
You can watch the full interview below.