American financial advisor Suze Orman says she loves Bitcoin. She has given some advice on how to invest in the cryptocurrency on a monthly basis, noting that she prefers to buy Bitcoin through PayPal’s crypto service because the payment giant made it easy.
Suze Orman loves Bitcoin
Suze Orman said she loved Bitcoin in an interview with Yahoo Finance published on Friday. There she shared her Bitcoin investment strategy and advised the listeners on how to start investing in the cryptocurrency.
She founded Suze Orman Financial Group in 1987 and her Suze Orman show ran on CNBC from 2002 to 2015. She has written 10 consecutive New York Times bestsellers on personal finance and was named twice on Time Magazine’s 100 Most Influential People. She also won two Emmy Awards and eight Gracie Awards. In 2016, she was named the United States Army and Army Reserve Personal Finance Educator.
Orman was asked on Friday, “How do you see Bitcoin?” Referring to one of her recent podcasts on cryptocurrency, she replied:
I love bitcoin. I like the universality of it.
She stated, “I like that it’s just there and the companies that invest in it.” However, the two-time Emmy Award-winning television presenter added, “I don’t like Bitcoin as a currency. I don’t like it when you buy a Tesla or buy something with it. I like it as a possible replacement for gold, as an investment. “Recently, Elon Musk’s electric car company Telsa announced that it will soon be accepting BTC as payment for its products.
Orman continued, “I personally played bitcoin through microstrategy. I bought Microstrategy last June for about $ 125 a share. “She explained,” There was something about the CEO, “said Michael Saylor, who made her think,” This man makes sense to me. ” Microstrategy has been buying Bitcoin since August last year. As of March 5, the company has around 91,064 bitcoins on offer.
“I drove with it [Microstrategy] all the way up and I sold. I think it was around $ 1,000 a share last week because for the first time I didn’t like that Bitcoin was up but Microstrategy was down, ”Orman said.
Suze Orman’s Bitcoin investment tip, buying cryptocurrencies through PayPal
Orman gave some advice on investing in cryptocurrency. She warned of the risks associated with investing in Bitcoin.
“What I tell my audience and what I would say to everyone is Bitcoin seriously risky,” she began. “I would not invest in Bitcoin with money that I cannot afford to lose because the fluctuations will not be just a point or two per day. They will be worth $ 5,000 one day. It’s going to rise 7%, fall 10%, it will be everywhere. “
Even so, she advised, “But I think it’s something that wouldn’t harm people if they had to lose it, $ 100 a month.” The personal finance guru went on to say:
I personally would do it through Paypal because Paypal makes it so easy and it isn’t a huge hit in terms of commission. It’s like 1.5%, 2% depending on how much you invest each month.
She emphasized: “I like Bitcoin and I really like the premise behind it. And I really love how Cathie Wood loves Bitcoin. I love that very much. “Wood is the founder and CEO of Ark Investment Management.
Many people on Twitter are surprised to hear Orman say she loves Bitcoin. “I’m not going to lie, I didn’t see this coming,” tweeted one user. “I’m going to put this under” headlines I didn’t expect in my life, “commented another.
Regarding using Paypal to purchase Bitcoin, some Bitcoiners have raised concerns about the payment giant’s crypto service. While some users have complained about the service, many Bitcoin proponents warn that cryptocurrencies purchased through PayPal cannot be transferred from the platform, emphasizing “not your key, not your coins”.
“You are currently unable to send crypto assets to family members or friends, use crypto assets to pay for goods or services, or move crypto assets from your cryptocurrencies hub to an external cryptocurrency wallet,” it said it in the General Terms and Conditions of the Paypal Crypto Service. “If you want to withdraw the value of your cryptocurrency hub, you need to sell your crypto assets and withdraw the cash proceeds from the sale.”
What do you think of Suze Orman’s advice on Bitcoin? Let us know in the comments below.
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