Gene Simmons, the frontman for the highly popular old school band Kiss, has claimed on previous occasions that he only endorses products in which he firmly believes or with which he has an “emotional connection.” He recently stated he believes bitcoin isn’t dead.
Recently, Simmons shared his views regarding Bitcoin (BTC), the flagship cryptocurrency, while attending a cryptocurrency-related event for family business office managers. Simmons, who reportedly has a net worth of more than $300 million, attended the event for wealthy investors along with Anthony Pompliano, the co-founder of Morgan Creek Digital Assets. After the event, Pompliano and Simmons reportedly spent time together at an afterparty in Los Angeles, California.
Commenting via Twitter, Pompliano revealed that Simmons believes
“Bitcoin is volatile, but every time people think it’s dead, it goes up a little” — @genesimmons
This guy gets it 🔥 pic.twitter.com/sXIwSYYMrI
— Pomp 🌪 (@APompliano) April 25, 2019
$3 Billion In Ancillary Revenue, But A Lot Went Towards Taxes
As a bassist for the legendary band Kiss, Simmons has acquired several other skills over the years which are not necessarily related to the music industry. For example, Simmons has been in charge of various initiatives, including one where he helped the brand “generate $3 billion worth of ancillary revenue.”
This, according to a report from CNBC, which revealed that a large percentage of the proceeds go towards paying taxes. During an interview in 2012 with Forbes, Simmons remarked that he supports capitalism, however he also noted at that time that he did not quite approve of the capitalist movements in the US.
He told Forbes (in 2012):
I believe in supply and demand. I don’t believe the government should stick their noses into the rise and fall of the economy.
Simmons added he doesn’t believe in the welfare system, but believes in the job system saying: “don’t give people welfare, give them jobs. You shouldn’t get a check for nothing, you should get a check for doing something. Otherwise you’re training generations for doing nothing.” The legendary arrtist said:
I don’t believe the unions should have a hold on jobs, I believe in work states, I believe in supply and demand. I don’t believe in competition. I believe the current system is closer to Socialism than it is Capitalism. I am a direct result of the capitalist system. I came to America and I had nothing, I had inferred people skills and language skills. I don’t borrow money, and I fund myself and I create jobs and I hate anybody that’s looking for a free ride.
Bitcoin Would Make An ‘Interesting Investment’
In September 2017, the Kiss band co-founder stated in an interview with TheStreet that he thought bitcoin would make for an “interesting” investment and that he liked the idea of having a decentralized currency.
He remarked at that time:
I am interested in Bitcoin, but only as a piece of the [investment] puzzle.
According to Simmons, it’s best to diversify your investment portfolio by making strategic investments in many different types of asset classes.