While many remain wary of cryptocurrency, Bitcoin has garnered a wave of support in recent months: in February alone, fintech Square and business software company MicroStrategy bought large sums of additional bitcoins to add to their existing portfolios, while electric vehicle company Tesla added billions of dollars worth of currency to its balance sheet.
Among the new bitcoin bowling is personal finance expert Suze Orman.
“I love bitcoin,” Orman told Yahoo Finance in an interview published Friday. “I like universality. I like it and the companies that invest in it.”
But, Orman clarifies, he doesn’t see bitcoin as an alternative to fiat currency: “I don’t like bitcoin as a currency. I don’t like you buying a Tesla or something with it. I like it as a possible replacement for gold, as an investment “.
And she is not alone in her thinking.
Billionaire investor Mark Cuban argued recently that bitcoin will be a better reserve of value than gold, and considers its value to be an asset rather than a currency.
“Bitcoin will not be a currency,” Cuban told Real Vision in an interview published Feb. 9. “It’s a cryptographic asset. It won’t be a hedge against fiat and printing too many dollars.”
Orman, who also hosts a podcast called “Women & Money,” said he had “personally” invested in bitcoin through software company MicroStrategy.
“In June last year, I bought MicroStrategy at about $ 125 a share, around me, I think,” he told Yahoo Finance, adding that his decision was pushed after hearing the CEO of the company. “I rode it all the way and sold it, I think it was last week, with a figure of about $ 1,000 per share, because Bitcoin was going up but MicroStrategy [stock] it was going down. “
Despite his love of cryptocurrency, Orman warns: “[B]itcoin is seriously risky. I wouldn’t invest in bitcoin with money I couldn’t afford to lose. “
Orman recommends investing $ 100 a month in bitcoin, but only if it’s 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. Friday, the cryptocurrency is trading at $ 48,087.22.
However, “I like bitcoin,” he tells Yahoo Finance.
Take a look at: The Best Credit Cards for Buildings of 2021
Do not miss it:
Disclosure: CNBC has the exclusive offline cable rights to “Shark Tank.”