While many remain cautious about cryptocurrency, bitcoin has garnered a wave of support in recent months – only in February did fintech Square and enterprise software company MicroStrategy buy large amounts of extra bitcoin to add to existing portfolios. while electric car company Tesla has added billions of dollars worth of billiards.
Among the latest bitcoin bulls is personal finance expert Suze Orman.
“I like bitcoin,” Orman told Yahoo Finance in an interview Friday. “I like universality. I like that there are corporations that invest in it.”
But, Orman clarifies, she does not see bitcoin as an alternative to fiat currency – “I don’t like bitcoin as a currency. I don’t like where you buy a Tesla or something with it. I like it as a possible replacement for gold, as an investment. “
And she’s not alone in her thinking.
Billionaire investor Mark Cuban argued recently that Bitcoin will be a better deposit of value than gold and he sees its value as an asset rather than a currency.
“Bitcoin will not be a currency,” the Cuban told Real Vision in a February 9 interview. “It’s a crypto-asset. It won’t be a cover-up against fiat and printing too many dollars.”
Orman, who also hosts a podcast called “Women & Money,” said he invested “personally” in bitcoin through software company MicroStrategy.
“In June last year, I bought MicroStrategy for about $ 125 a share, right there, I think,” she told Yahoo Finance, adding that her decision was determined after hearing the company’s CEO speak. “I rode it to the end and sold it, I think it was last week, on the right, about $ 1,000 per share, because bitcoin was growing, but MicroStrategy [stock] he was going down. “
Despite his love of cryptocurrency, Orman warns:[B]itcoin is seriously risky. I wouldn’t invest in bitcoin with money I wouldn’t afford to lose. “
Orman recommends investing $ 100 a month in bitcoin, but only if this is an amount you can afford to lose.
Bitcoin has a current market value of about $ 897 billion, according to Coindesk, and as of 10:40 a.m. EST, the cryptocurrency is trading at $ 48,087.22.
All in all, “I happen to like bitcoin,” she tells Yahoo Finance.
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