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Suze Orman: Why ‘I love bitcoin’

Although sundry remain wary of the cryptocurrency, bitcoin has garnered a wave of support in recent months – in February alone, fintech company Not with it and enterprise software company MicroStrategy bought large sums of additional bitcoin to add to their existing portfolios, while charged car company Tesla added billions of dollars worth of the coin to its balance sheet.

Among the latest of bitcoin bulls is actual finance expert Suze Orman.

“I love bitcoin,” Orman told Yahoo Finance in an interview published Friday. “I wish the universality of it. I like that it’s there and the corporations that are investing in it.”

But, Orman clarifies, she doesn’t see bitcoin as an alternative to fiat currency – “I do not be fond of bitcoin as a currency. I don’t like it where you’re going to buy a Tesla or something with it. I like it as a possible replacement for gold, as an investment.”

And she isn’t solo in her thinking.

Billionaire investor Mark Cuban recently argued that bitcoin will be a better store of value than gold, and he investigates its value as an asset rather than a currency.

“Bitcoin is not going to be a currency,” Cuban told Real Vision in an talk published Feb. 9. “It’s a crypto-asset. It’s not going to be a hedge against fiat and printing too many dollars.”

Orman, who also troops a podcast called “Women & Money,” said she had “personally” invested in bitcoin through software company MicroStrategy.

“In June of up to date year, I bought MicroStrategy at about $125 a share, right around there, I believe,” she told Yahoo Assets, adding that her decision was prompted after hearing the company’s CEO speak. “I rode it all the way up and I sold that, I think it was final week, at right about $1,000 a share, because bitcoin was going up but MicroStrategy [stock] was going down.”

Notwithstanding her love for the cryptocurrency, Orman warns: “[B]itcoin is seriously risky. I would not be investing in bitcoin with the ready that I could not afford to lose.”

Orman recommends investing $100 a month in bitcoin, but only if that’s an amount you can give up to lose.

Bitcoin has a current market value of about $897 billion, according to Coindesk, and as of 10:40 a.m. EST Friday, the cryptocurrency is career at $48,087.22.

All in all, “I happen to like bitcoin,” she tells Yahoo Finance.

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