Gene Simmons from KISS Recommends Holding Bitcoin Long Term

Gene-Simmons-from-KISS-Recommends-Holding-Bitcoin-Long-Term
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TL;DR

  • KISS’s Gene Simmons advises holding Bitcoin long-term, having invested since prices of $10,000.
  • Samson Mow calls Bitcoin’s recent drop “unfair” but remains optimistic about its future.
  • He trusts recovery due to Bitcoin’s fixed scarcity limit of 21 million coins.

Gene Simmons, legendary vocalist of the band KISS, posted on social media a message directed at his followers about Bitcoin, a topic he rarely addresses publicly. The musician recommends that the community hold BTC long term, expressing his confidence in the future of the largest cryptocurrency in the market.

Simmons shared his personal philosophy regarding Bitcoin, emphasizing the importance of personal research amid current volatility. The 75-year-old vocalist has a background as a Bitcoin investor since prices of 10,000 dollars, plus participation in altcoins like Ethereum and Dogecoin. His current stance reflects a long-term holding philosophy that contrasts with more skeptical statements he made about cryptocurrencies in the past.

Bitcoiners like Natalie Brunell supported the message, while other users mocked his age and criticized him calling him a promoter of “shitcoins”. The debate reveals the polarization existing within the crypto community regarding public figures who endorse digital assets.

Bitcoin Falls Without Justification, According to Cryptocurrency Analyst

Samson Mow, Bitcoin evangelist and CEO of JAN3, commented on Bitcoin’s recent price decline, which lost nearly 20% in the past week. Mow stated that it is not the magnitude of the fall that makes it “horrible”, but rather that it is “unfair”, according to his Twitter post.

Bitcoin's recent price decline

The executive expressed his disappointment saying that other assets constantly rise, but Bitcoin remains without significant gains. BTC falls for various reasons that emerge in the market, including fears about artificial intelligence bubbles and the decline of gold and silver. Despite this, Mow maintains optimism about Bitcoin’s future.

His main reason for believing in a recovery lies in Bitcoin’s scarcity. Mow reminded investors that Bitcoin’s circulating supply has a fixed limit of 21 million coins. When that supply runs out, he argues, the price will inevitably begin to increase. “We can’t be pushed down forever“, Mow wrote in his post, reaffirming his confidence that Bitcoin will overcome periods of weakness thanks to its economic fundamentals.

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