Thursday, February 25, 2021

American Singer Gene Simmons’ $300,000 Investment in ETH Becomes $1.376 Million in 4 Months

Gene Klein, an American singer and entrepreneur, professionally known as Gene Simmons, has recently revealed to the crypto community that he purchased $300,000 worth of Ethereum (ETH) four months ago via Gemini exchange.

Simmons, popularly known for being the frontman of the band known as “Kiss”, also revealed that the purchase was made simple by Winklevoss twins, the co-owners of Gemini exchange, Tyler and Cameron Winklevoss.

Read Also: Ethereum (ETH) Is Now Bigger Than Wells Fargo, Morgan Stanley, American Express, IBM

The popular singer revealed his huge investment in Ethereum (ETH) via a viral tweet on 13th February 2021.

Gene Simmons, tweeted, “About 4 months ago, I bought $300k of Ethereum Ethereum through Gemini and Tyler/Cameron Winklevoss. Thought you’d like to know.”

$300,000 Investment in Ethereum (ETH) Becomes $1.376 Million in 4 Months

According to Gene Simmons, he bought the $300 Ethereum (ETH) 4 months ago, which makes the actual date of the purchase possibly 13th October 2021. Back then, the digital currency was trading around $394.

Read Also: Gemini’s Cameron Winklevoss States What Will Impact Ethereum (ETH) Price in the Future

At the time of writing, Ethereum (ETH) is trading at $1,808, indicating that his investment 4 months ago has gained 4.59 times more.

So, Simmon’s initial purchase is now valued at $1.376 Million with the potential to keep surging towards higher highs, considering the current bullish moment of Ethereum (ETH), the second-largest cryptocurrency by market capitalization.

Ethereum Reclaims $1,800 and Could Test $2k

With respect to price, Ethereum is once again trading above the important $1,800 zone that is key to ETH posting a new all-time high closer to the highly anticipated $2k ceiling.

The weekly close is a few hours away and the cryptocurrency could very well remain bullish above this level as the new week kicks in.

Read Also: Gemini’s Tyler Winklevoss Says ‘When in Doubt, Ethereum” As ETH Is Now 9% Away from ATH

Another thing that is worthy of note is that Grayscale has been scooping up a lot of Ethereum since the year began and the momentum could be maintained going forward.

This in turn means that Ethereum (ETH) could keep surging to new price highs fueled by institutional interest through Grayscale and the CME Ethereum futures contracts.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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