Should you buy the cheapest crypto or the one with the most growth potential. This star prefers Cardano (ADA) to Bitcoin (BTC) because of its price.
La rock star ADA
The singer of the band Kiss, Gene Simmons, recently bought $300,000 from ADA.
The price of ADA was below 1 USD.
Gene Simmons chose to buy ADA because it is far cheaper than Bitcoin, which reached $50,000 on February 16, 2021, and $57,000 on February 20, 2021.
Gene Simmons’ tweet about this massive purchase of ADA, was criticized by many twittos, accusing the singer of having been paid to promote Cardano.
These negative reactions could be partly due to recent statements by a famous Youtubeur claiming that Justin Sun contacted him and other celebrities to promote Tron (TRX).
The ADA is not the only altcoin to be supported by celebrities.
Gene Simmons had indicated that he bought Dogecoin (DOGE) and Ripple (XRP) in February 2021. He had also reported holding Ether (ETH) and Litecoin (LTC).
DOGE also has the support of Elon Musk, Mia Khalifa, and Lindsay Lohan.
For Mark Cuban, the DOGE is an economics professor teaching the mechanisms of supply and demand, with the added bonus of fun.
The finance of the stars
The regulatory authorities that want to ban cryptomoney, will have to find the right strategies to counter the positive influence of celebrities on cryptomoney.
The new finance is made up of intangible assets whose value may elude the followers of traditional finance.
The « fun » side of cryptomoney, with rock stars investing in it without any particular knowledge of finance, can undermine its credibility in the eyes of purists.
But the new finance has its own codes, which some people like and others are sceptical about.
By locking themselves into their own logic, are « big » financiers like Warren Buffett in danger of being overtaken by rock stars and other social network influencers who plunge into the cryptosphere? What is the growth potential of cryptos other than Bitcoin or Ether today? Can their price be multiplied by 10, 100, or 1,000 over the long term? Classical altcoins may have had their time, is it time to turn to the young DeFi tokens?
Litecoin, welcome in the Silver Age
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