Bitcoin is taking a lead amongst cryptocurrencies for garnering most of the support at the international level by individuals and institutions. The biggest support was provided to it by a software enterprise called Microstrategy as well as by companies such as Tesla Inc. and Square. Tesla Inc. alone bought Bitcoins worth US$ 1.5 Billion.
One of the forecasters of Bitcoin bull is Suze Orman who is known for being an expert in the field of personal finance. She was recorded for an interview at Yahoo Finance in which she stated that she has utmost fondness and love for Bitcoin. In addition, she stated that she is fond of Bitcoin’s universality and admires that the global corporations are showing their support to the leading crypto.
However, she clarified that to her Bitcoin cannot overpower traditional fiat. She said that the idea of buying anything for say a Tesla car through Bitcoin does not appeal to her really. In fact, she prefers it for the purposes of investment like Gold and nothing else, she explained. She also said that she is glad she isn’t the only person who thinks that way. She referred to Mark Cuban’s statement in which Cuban suggested that Bitcoin is more like an asset. He also suggested that Bitcoin should be preferred over Gold for being a better store of value.
For quite some time Orman has been hosting a public podcast called the Women and Money. During one of her podcasts, Orman informed me that she was part of the Bitcoin investment plan of MicroStrategy. She said that she too had invested money into Bitcoin through the software giant company.
She further informed that in 2020, she had acquired shares of Microstrategy for a sum of US$ 125 p/share. She said that she was inspired by the remarks and arguments of the CEO of MicroStrategy which led her to become a Bitcoin investor herself. She also told that she then sold her stocks of shares relating to MicroStrategy at a time when their value was declining. On the other hand, she told, that the value of Bitcoin was surging.
For her Bitcoin is love, however, Orman did not hesitate to warn others before risking their money with crypto purchase. She explained that Bitcoin investment is for those who have extra money available in their pockets. Those whose resources are limited must avoid investing in Bitcoin or any other crypto product at all costs. She said that she may be wrong but this is how the commerce industry works. One must consider the aggressive risks before making a move, advised Orman.
She advised that only that portion of the money should be invested in Bitcoin which, if lost, doesn’t matter too much. But if the loss does matter, then certainly Bitcoin isn’t the perfect investment vehicle for anyone.