While many remain wary of the cryptocurrency, bitcoin has received a wave of support in recent months – in February alone, fintech firm Square and enterprise software firm MicroStrategy bought large sums of additional bitcoin to add to their existing portfolios, while electric car company Tesla added. billions of dollars of the currency on its balance sheet.
One of the newest bitcoin bulls is Suze Orman, a personal finance expert.
“I love bitcoin,” Orman told Yahoo Finance in an interview published Friday. “I like the universality of it. I like that it is there and the companies that invest in it.”
But, Orman clarifies, she doesn’t see bitcoin as an alternative to fiat currency – “I don’t like bitcoin as a currency. I don’t like what you’re going to buy a Tesla or anything with. It as a possible substitute for gold, as an investment. . “
And she’s not alone on her mind.
Billionaire investor Mark Cuban recently argued that bitcoin will be a better store of value than gold, and he sees its value as an asset rather than a currency.
“Bitcoin will not become a currency,” Cuban told Real Vision in an interview published February 9. “It’s a crypto asset. It won’t be a hedge against fiat and printing too many dollars.”
Orman, who also hosts a podcast called “Women & Money,” said she “personally” invested in bitcoin through software company MicroStrategy.
“In June last year, I bought MicroStrategy for about $ 125 a share, I believe close to that,” she told Yahoo Finance, adding that her decision was prompted after hearing the company’s CEO speak. “I drove it all the way up and I sold that, I think it was last week, about $ 1,000 a share because bitcoin was going up, but MicroStrategy [stock] Went down. “
Despite her love for the cryptocurrency, Orman warns, “[B]itcoin is seriously risky. I wouldn’t invest in bitcoin with money I couldn’t afford to lose. “
Orman recommends investing $ 100 a month in bitcoin, but only if that’s an amount you can afford to lose.
Bitcoin has a current market value of approximately $ 897 billion, according to Coindesk, and as of 10:40 a.m. EST Friday, the cryptocurrency is trading at $ 48,087.22.
All in all, “I like bitcoin,” she tells Yahoo Finance.
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