Rock legend Gene Simmons says he trusts and continues to invest in Bitcoin. KISS star Gene Simmons is very optimistic about Bitcoin and other cryptocurrencies. During his last CNBC show, KISS frontman Gene Simmons said he’s ambitious about Bitcoin. Details Cryptocoin. com
Bitcoin (BTC) price prediction
The rock star believes that Bitcoin will trade at $60,000 early next year. Simmons says:
So, I’m in, I’m putting it all in. When there is a big drop and it falls… I put more.
Cryptocoin. com, the musician-turned-businessman revealed in February he has a seven-figure Bitcoin fortune. Simmons got into the crypto business because of a meeting with Tyler Winklevoss at the start of the pandemic. He quickly became a very influential cryptocurrency advocate, which even led some to think that Simmons was receiving money from certain circles. Apart from Bitcoin, the KISS star is also known to own Ethereum, Cardano, Polkadot, and Uniswap.
Simmons likes that crypto leaves a digital fingerprint of money, which makes it easier than gold to tax it. He also added that people can now use crypto to purchase his art, which will be available later this year.
BTC or ETH?
On the other hand, renowned analyst Lark Davis predicts that Ethereum (ETH) is more “bullish” than Bitcoin (BTC). Widely followed crypto analyst and commentator Lark Davis says that Ethereum (ETH) is outperforming Bitcoin (BTC) and has a more bullish scenario as the supply squeeze intensifies. The trader is posting a video, updating a piece of news that Etherem is outpacing Mastercard in terms of market cap. Alongside this, Davis cites the recent Coinbase Q2 report, which showed a notable figure, saying that Ethereum surpassed Bitcoin in trading volume and is the most traded crypto on Coinbase.
Davis then cites the following in support of his claims:
The presence of growth in the DeFi and NFT ecosystems, where Ethereum is an important underlying Blockchain. Adding to that is the significant growth in Ethereum trading volumes, surpassing Bitcoin trading volumes on Coinbase for the first time, due to increased demand driven by the ETH2 staking product.
Crypto commentators point out that Ether, which is held on centralized exchanges, has reached a 3-year low.