Bitcoin News and Finance
Finance Guru Suze Orman Likes Bitcoin Despite Regulation, Elon Musk Effect Skip to main content

Finance Guru Suze Orman Likes Bitcoin Despite Regulation, Elon Musk Effect

Finance Guru Suze Orman Likes Bitcoin as Long Term Investment Despite Regulation, Elon Musk Effect

Personal finance guru and best-selling author Suze Orman has given advice on how to invest in bitcoin. She likes the cryptocurrency as a long-term investment despite regulatory uncertainty and the influence Tesla CEO Elon Musk seems to have on the bitcoin market.

Suze Orman’s Bitcoin Investing Advice

Suze Orman has shared her bitcoin investment strategy in an interview with CNBC Monday. The Suze Orman Financial Group founder, whose show ran on CNBC from 2002 to 2015, has written 10 consecutive New York Times bestsellers about personal finance. She was named twice on Time Magazine’s list of the 100 most influential people and was appointed as a personal finance educator for the United States Army and Army Reserve in 2016. In addition, she won two Emmy Awards and eight Gracie Awards.

Emphasizing that she likes bitcoin as a long-term investment but not as a currency, the famed author of the book “The Ultimate Retirement Guide for 50+” said:

You have to hold it for the long run.

She previously said, “Any money that you can afford to lose, then I don’t have a problem with you investing in bitcoin.” Orman also warned that the price of bitcoin could still sink to the $30,000 level or even to $26,000. The price of BTC is $40,134 at the time of writing based on data from Bitcoin.com Markets.

The famed financial advisor believes that bitcoin is a legitimate investment largely due to major corporations pouring millions of dollars into the cryptocurrency. In addition, she said the American youth likes it, noting, “You really have to validate them as to where they are going.”

Regarding Tesla CEO Elon Musk’s tweets affecting the price of bitcoin, Orman opined:

I don’t like that one man can come out and say something and it controls the market.

When Tesla announced that it had invested in BTC and would accept the cryptocurrency for payments, the price of bitcoin soared and then plummeted when Musk said that his electric car company had suspended accepting bitcoin due to environmental concerns. When Musk clarified that Tesla will resume accepting BTC “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”

Orman also dislikes bitcoin being used in ransomware attacks. She questioned:

Will the government come in and start to regulate it and everything?

The Biden administration has made ransomware a priority and the G7 leaders have called on Russia to urgently “identify, disrupt, and hold to account” ransomware hackers and those abusing cryptocurrency to launder ransoms.

Despite regulatory uncertainty and Musk seemingly affecting 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 just leave it, but not a lot.

Orman further pointed out that besides purchasing cryptocurrencies directly, investors can also gain exposure to bitcoin or other cryptocurrencies by buying stocks of companies that invest in BTC or are engaged in crypto projects. “There are other ways to play it other than just simply buying the crypto itself,” Orman suggested, naming Microstrategy and Square as examples.

What do you think about Suze Orman’s bitcoin advice? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory