Popular financial advisor Suze Orman says she is a fan of bitcoin as a possible replacement to gold, noting BTC’s worth as a store-of-value asset.
Speaking in a recent interview with Yahoo Finance, Orman revealed she is a fan of the “universality” of bitcoin and its newfound corporate backing from giants such as Tesla and MicroStrategy. Despite being positive on the outlook for bitcoin, Orman was cautious about BTC’s utility as a potential currency.
She said: “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 revealed she had invested in MicroStrategy last June and booked a profit by selling the stock in February when the price was above $1,000.
The financial advisor warned listeners that bitcoin was “seriously risky,” and highlighted the daily double-digit price swings.
She continued: “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 told the host she was a proponent of bitcoin and “loved” that ARK Investment Management CEO Cathie Wood was a fan of BTC.