Personal finance guru and best-selling author Suge Orman offers advice on how to invest in bitcoin. Despite regulatory uncertainty and Tesla CEO Elon Musk’s influence on the bitcoin market, she prefers cryptocurrency as a long-term investment.
Suge Orman’s Bitcoin Investment Advice
Suze Orman shared his bitcoin investing strategy in an interview with CNBC on Monday.
The founder of Suze Orman Financial Group, whose show ran on CNBC from 2002 to 2015, has written 10 consecutive New York Times bestsellers about personal finance. He was twice named in Time magazine’s list of 100 Most Influential People and was appointed as a personal finance teacher for the United States Army and Army Reserves in 2016. In addition, she won two Emmy Awards and eight Gracie Awards.
Emphasizing that she prefers bitcoin as a long-term investment, but not as a currency, the noted author of the book “The Ultimate Retirement Guide for 50+” said:
You have to keep it for a long time.
He previously said, “Any money you can afford to lose, I have no problem investing in your bitcoins.” Orman also warned that the price of bitcoin could still drop to $30,000 or $26,000. the value of B T c is $40,134 at the time of writing based on data from Bitcoin.com Market.
The famous financial advisor believes that bitcoin is a legitimate investment, largely because major corporations have poured millions of dollars into the cryptocurrency. Plus, she said American youth love it, noting, “You really have to validate where they’re going.”
Regarding Tesla CEO Elon Musk’s tweets affecting the price of bitcoin, Orman said:
I don’t like that a man can come out and say something and it controls the market.
When Tesla announced it had invested in B T c and will be Accept The price of bitcoin, the cryptocurrency for payment, rose and then fell after Musk said his electric car company had suspended Accepting bitcoin due to environmental concerns. When Musk clarified that Tesla would resume accepting B T c “When reasonable (~50%) clean energy use by miners is confirmed with a positive future trend, Tesla will resume allowing bitcoin transactions.”
Orman also dislikes bitcoin being used in ransomware attacks. He questioned:
Will the government come and start regulating this and everything else?
Biden Administration Has Created Ransomware preference and the G7 leaders have called russia Instantly “identify, intercept and account” ransomware hackers and those who misuse cryptocurrencies to launder ransom.
Despite regulatory uncertainty and Musk influencing the price of bitcoin with his tweets, Orman said:
I still think for the long run… it’s a place to put some money and leave it, but not a lot.
Orman further explained that in addition to buying cryptocurrencies directly, investors can also invest in bitcoin or other cryptocurrencies by purchasing shares of companies that invest in them. B T c Or engaged in crypto projects. “There are other ways to play this than just buying crypto,” Orman suggested, naming micro strategy and Class as example.
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