Suze Orman is a personal finance guru that knows a thing or two about bitcoin. She also has some very clear ideas about how someone should invest in it and how much they should buy.
Suze Orman Discusses How BTC Investing Should Be
In a recent interview, Orman claims that bitcoin should not be viewed as a currency, even though that is what it was designed to be. She says that for now at least, people need to be looking at it as a long-term investment if they want to accomplish anything of value with bitcoin. She says that BTC is still in a rather unstable position, and that for the most part, it is still highly volatile and could potentially fall back down into the $30,000 range or even below that in the coming weeks.
Thus, people need to be prepared and should never invest anything that they cannot afford to lose. Orman mentions:
Any money that you can afford to lose, then I do not have a problem with you investing in bitcoin… You have to hold it for the long run.
There was a day when bitcoin was looked at as something to avoid. Many financial experts claimed it was a fad of some kind that was likely to disappear in the future. Some even went so far as to label it a Ponzi scheme or something worse.
However, new evidence suggests that the reputations of bitcoin and cryptocurrency are stabilizing and that several monetary managers are now recommending bitcoin investments to their clients. Per a recent survey initiated by the Financial Planning Association and the Journal of Financial Planning, approximately 14 percent of financial advisors are now recommending to their clients that they get involved in the crypto space.
In addition, bitcoin has a solid place in the hearts of millennials and other young generations. According to Orman:
You really have to validate them as to where they are going.
In the past, Orman has been critical of figures such as Elon Musk, who appears to have heavy control over the digital currency industry. She has stated that she is not a fan of the fact that a single Elon Musk tweet can potentially cause so much turmoil in the space:
I do not like that one man can come out and say something and it controls the market.
Will Regulators Move In?
She has also spoken out about the fact that bitcoin is consistently used in ransomware attacks, and she has speculated about whether the government may get involved in regulating BTC as a result. She says:
Will the government come in and start to regulate it and everything? I do not know, but I still think for the long run… it is a place to put some money and just leave it, but not a lot.