Financial advisor and podcast host Suze Orman is unveiling the reasons why she loves Bitcoin.
In a new Yahoo! Finance interview, the financial guru says she views Bitcoin as a store-of-value asset.
“I like the universality of it. I like that it’s just there and the corporations that are investing in it. I do not like Bitcoin as a currency. I don’t like it where you’re going to buy a Tesla or you’re going to buy something with it. I like it as a possible replacement for gold, as an investment.”
Orman reveals she made a bet on Bitcoin through business intelligence firm MicroStrategy in June last year and earned profits when she decided to sell her shares when the stock was trading around $1,000.
The personal finance expert adds that while Bitcoin can be incredibly volatile, there’s an easy way for the average investor to purchase the leading crypto asset.
“What I tell my listeners and what I would tell everybody: Bitcoin is seriously risky. I would not be investing in Bitcoin with money that I could not afford to lose because the swings are not just going to be a point or two a day. They’re going to be $5,000 worth one day. It’s going to be up 7%, down 10%. It’s going to be all over the place.
But I think it is something that won’t hurt people to pull. Maybe if they had it to lose, $100 a month in and I personally would do it through PayPal.”
Orman also draws inspiration from ARK Invest CEO Cathie Wood, who said that Bitcoin is the best hedge against inflation.
“I happen to like Bitcoin, and I like the premise behind it a lot, and I really love how Cathie Wood loves Bitcoin. I love that a lot.”