Rock Legend Gene Simmons Says He's "All In" on Bitcoin

Zedpastin

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Quote from: uneng on August 15, 2021, 03:23:15 PM

He is a smart investor and open minded about the future of financial world.

Most people see those hardcore rockstars as crazy guys, but in fact some of them can be really visionary and engaged in serious matters like investments and finances. Some may say he is irresponsible anyway by entering crypto currency universe with all his assets, but since he is a famous artist, I'm sure he has another sources of income, so even though bitcoin and altcoins lose value, he will be still financially confortable.

Most rockstars have built up that reputation because they are very public about wasting their money on drugs and alcohol it is refreshing to see one of them using their brain and investing in something that is revolutionary.

uneng

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He is a smart investor and open minded about the future of financial world.

Most people see those hardcore rockstars as crazy guys, but in fact some of them can be really visionary and engaged in serious matters like investments and finances. Some may say he is irresponsible anyway by entering crypto currency universe with all his assets, but since he is a famous artist, I'm sure he has another sources of income, so even though bitcoin and altcoins lose value, he will be still financially confortable.

dupee419

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Quite easy for Gene to actually expand his fortune through crypto, with the amount of his money in his pockets, the only thing left for him to do is to gain knowledge within crypto, and he did, once you engage in the market and crypto, you'll definitely go all-in without any kind of hesitation, what is there to lose anyway when he has all the resources he needs, wise choice from him, what a legend indeed.

Carlton Banks

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I'm pretty sure Gene Simmons is one of many music "stars" who is against peer-to-peer network tech, when he doesn't like the outcome (i.e. he can no longer sell $0.01 pieces of plastic for $10.00 Cheesy

)

So it's maybe a little hypocritical for those like him to jump on this particular bandwagon. But he's also maybe he's figured it out: this tech is very difficult to stop, so if you can't beat 'em...

lablab03

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Quote from: cheezcarls on August 13, 2021, 07:12:18 AM

Nothing new here. If he’s going all-in, he must acknowledge the risks that he’s taking. For me, I honestly think that going all-in on a single coin or token isn’t a good idea unless he can afford to lose all of it. That’s his decision anyway, so let it be. At the end of the day, his experience would be his greatest teacher of all.

yep its very risk to put all in on a single coin, unless if you buy at the very low price and you have specific information what will be the results after all, if not, its very skeptical..it's like you are not aware of losing money when it comes investing through cryptocurrency which is even despite we all knows that every time many people lost massive amount also due to being careless and greediness. But yes it's his decision so we don't have cares. Lmao

cheezcarls

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Nothing new here. If he’s going all-in, he must acknowledge the risks that he’s taking. For me, I honestly think that going all-in on a single coin or token isn’t a good idea unless he can afford to lose all of it. That’s his decision anyway, so let it be. At the end of the day, his experience would be his greatest teacher of all.

SFR10

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Not gonna lie, I enjoyed every bit of that interview, but the BTCitcoin part on the subject field of that article is a bit misleading. I do know it focuses more on BTCitcoin but there was also a part that he mentioned having or rather investing in 14 cryptocurrencies.

Having said that, I didn't enjoy seeing that he's putting everything into cryptocurrencies. Someone has to educate him that's not the "proper" way of diversifying ^{[most of the other cryptocurrencies simply follow BTCitcoin (with the exception of a few)]}.

BTW, the part where he tried to explain what "hodler ^[0:55]" means, made me laugh so hard Cheesy

Yaunfitda

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At least Gene Simmons is good at investing and all the money he made during his prime is put into good used. For sure he is not only into bitcoin, but he could have divested enough that he made a profits already and now he is going all in because he knows what is the potential of bitcoin and the rest of the top ten altcoins.

And for sure, he will not be the last celebrity that we are going to hear about investing their money into crypto currencies. Specially that we are not experiencing another bull run, we may hear other rock stars too.

GreatArkansas

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I just remember a previous bull run that when some celebrities/popular person starting to enter Bitcoin, dumps happened.
This could be a "buy the news, sell the humor". But I don't disagree with Gene Simmons about Bitcoin. I do not just agree on "all in" to Bitcoin, since we all know what is/are the risk of Bitcoin.

sunsilk

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I don't know him but did a few research about this guy. He seems to be an influential person in his genre and with that figure of wealth in bitcoin and other altcoins, he knows what he's doing.

But people who are fan of his, they shouldn't be just hyped and attracted because their idol is in bitcoin. They still have to make their own researches before investing just as him.

Kong Hey Pakboy

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Quote from: avikz on August 13, 2021, 04:58:57 AM

Don't be dumb like Simmons! He may be a great bass guitarist but definitely not an investment advisor. So don't listen to him and follow the traditional way of investment - diversify your portfolio! There's nothing to stop you from investing in bitcoin and gold and stock simultaneously. So never go all in with a single asset.

It's a good practice to always diversify your investment portfolio. Have every possible assets in the portfolio. If you are bullish about bitcoin, give higher percentage to it. But never ever go all in. That might be the dumbest idea you will see!

That's what I thought too right away because of the title, going all in is going to be dumb especially if you don't exactly know what you're getting into. I don't necessarily agree with diversification though, I feel like at the first stages of investment, it's important to build a strong foundation so investing in only one crypto that guarantees a growth is the first step.

avikz

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Quote from: Leviathan.007 on August 12, 2021, 03:02:36 PM

In a recent interview with CNBC, Gene Simmons stated that he has entered Bitcoin with all his assets.
Rockstar is convinced that Bitcoin will be traded at a price of $ 60,000 by the beginning of next year:
"So, I’m all in, I’m putting all in. When there was a big dip and it went down…I’ve put in more."
As reported by U.Today, the musician, who has become a businessman, revealed that he had a seven-digit bitcoin fortune in February.
Simmons entered the world of cryptocurrencies at the beginning of the epidemic because of his relationship with Tyler Winklevoss.
He quickly became a fan of cryptocurrencies, which even led some to accuse Simmons of receiving wages with some cryptocurrencies.
Apart from Bitcoin, the KISS star also owns Ethereum, Cardano, Polkadot, and UniSwap.
Simmons likes the fact that cryptocurrencies leave digital fingerprints, which he says make it easier to tax than gold.
He added that his fans could now use the cryptocurrencies to purchase his artwork, which will be available later this year.

Source: https://u.today/rock-legend-gene-simmons-says-hes-all-in-on-bitcoin

Don't be dumb like Simmons! He may be a great bass guitarist but definitely not an investment advisor. So don't listen to him and follow the traditional way of investment - diversify your portfolio! There's nothing to stop you from investing in bitcoin and gold and stock simultaneously. So never go all in with a single asset.

It's a good practice to always diversify your investment portfolio. Have every possible assets in the portfolio. If you are bullish about bitcoin, give higher percentage to it. But never ever go all in. That might be the dumbest idea you will see!

Ararbermas

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When bitcoin is down what you need to expect is a good improvement afterwards, and summons really doing well and made a good decision to put all in despite of the situation. Actually it's not because of greediness wherein it's a wise move to gained massive returns while bitcoin is at dip because it's a big opportunity .. He's very motivated even it was his first time investing with crypto currency, and for me he has a good mindset.

Obito

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I am a fan of KISS and I love Gene but the all in seems a bit stupid in my opinion, unless he's still has a lot of leftover money. I guess he can still survive even though he goes all in, he's a rock legend after all and this also can bolster the increase in prices in the future with the help of his influence.

TheGreatPython

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Quote from: Leviathan.007 on August 12, 2021, 03:02:36 PM

Simmons entered the world of cryptocurrencies at the beginning of the epidemic because of his relationship with Tyler Winklevoss.
He quickly became a fan of cryptocurrencies, which even led some to accuse Simmons of receiving wages with some cryptocurrencies.
Apart from Bitcoin, the KISS star also owns Ethereum, Cardano, Polkadot, and UniSwap.
Simmons likes the fact that cryptocurrencies leave digital fingerprints, which he says make it easier to tax than gold.
He added that his fans could now use the cryptocurrencies to purchase his artwork, which will be available later this year.

Not a surprising thing for me because almost everybody in the entertainment industry now knows about Bitcoin. A lot of them now mentions it in songs and it’s also being mentioned in movies. So, it’s nothing new at all. It’s been long that we all started seeing news about celebrities that have started investing their money in bitcoin, many of them are into it now. There can as well be those of them that are buying bitcoin that we wouldn’t know of, maybe because they have decided to keep it to themselves. So that’s just it, they know, and it’s good that we are seeing a lot of them these days becoming part of it.

bL4nkcode

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Limited in number. Limitless in potential.

Good for him, but not wise if he put literally "all" of his assets into bitcoin or other cryptocurrencies, it's too risky not unless if he totally knows what he got into.

But it would be a huge profit after bitcoin reaches a new height, and would congratulate him and to all for keep holding.

bocyaj

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It's like a two headed snake concept.Some old people says, one head of two headed snake is not a poisoness.But we don't know, which head is poison less.If you place all the bet in the investment, you may earn huge.But the option will be investing the money into two to three different assets.Atleast one will gives you minor profit with a period.

Quidat

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Not bad to make out some engagement with crypto but going all in is something a risky decision for someone to make specially if they dont have much idea on how this market works or simply
talking out with volatility but since its his money then he do have the full decision towards it and as long he's aware with the risk then its his call but be sure on having back up plans
when things turns out to be bad or didnt happen on what you do expect but since we are talking about long term then most likely we would really be heading there.

romero121

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All in bitcoin is a wise decision along with high risk. There are common users who have profited with such kind of all in one investment. Earlier sold all his properties, stocks and went to a refugee campaign for the rest of his life. Within few months there happened a big bull market that could've given him big profit. So, it is all about the time. If the holding is for long term profiting then surely he'll profit out of the investment unlike the risk.

The Cryptovator

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Nothing surprising, but need the courage to invest all assets in Bitcoin. Simmons expecting Bitcoin would trade above $60K beginning of the next year, but I am expecting before the end of the year Bitcoin would trade above $60K. So his expectation is reasonable enough. The current Bitcoin rally is something indicating to touch ATH again soon in case if no more big bad news pop up. I have to say, he just realized the potential benefits of Bitcoin which has to lead him to invest all in Bitcoin.

Topic: Rock Legend Gene Simmons Says He's "All In" on Bitcoin (Read 187 times)