- Financial master, Suze Orman, shares her thoughts on Bitcoin investments.
- She says Bitcoin is a great choice for long-term investments, but, no so much as a currency.
- Also, a good choice is investing in stocks of companies that have already invested in Bitcoin.
Personal Finance expert, Susan Lynn ‘Suze’ Orman, imparts valuable insights on how to invest in Bitcoin. First and foremost, she makes it clear that she supports Bitcoin as a long-term investment only. Specifically, Orman emphasizes that she does not believe Bitcoin to be a good option for a currency.
Suze Orman shares this advice in an interview with CNBC on Monday. She is a highly respected financial advisor. For instance, she ran a show on CNBC known as ‘The Suze Orman Show’. Therefore, between 2002 – 2015, she guided millions with her take on the finance world.
Moreover, she wrote multiple New York Times bestsellers, all about personal finance. One, in particular, is the book ‘The Ultimate Retirement Guide for 50+’. More so, she even stood as the personal finance educator for the US Army and Army Reserve in 2016.
For investing in Bitcoin, Orman is all for it. She tells the audience that one should use the money they can afford to lose when it comes to Bitcoin investing. This is due to the fact that Bitcoin could fall or rise at any moment.
However, there is much merit in the investment. For one, it seems the youth seem to like the digital asset. “You really have to validate them as to where they are going”, she says. Furthermore, she remarks that Bitcoin is now a legitimate investment.
This development is mostly because major corporations are putting millions of dollars into Bitcoin. Although, she thinks it is distasteful how some influencers have greater sway over the Bitcoin market. Elon Musk is one such figure.
When he said Tesla will accept Bitcoin payments, the BTC price went up. Likewise, when Tesla quit accepting Bitcoin payments, the BTC price went down. Orman also mentions how unfortunate it is that Bitcoin is being used for ransomware attacks. She is hoping that the government will soon step in and begin regulating the crypto space.
Lastly, she points out that investors do not even need to purchase cryptos directly to enjoy its benefits. In fact, they can instead buy stocks of the companies that have invested in Bitcoin. Currently, there are many to choose from, like MicroStrategy or Grayscale, to name a few. This way, investors can gain some exposure without having to fully take crypto trading into their own hands.