Bitcoin News and Finance Personal Finance Guru Advises Dollar-Cost-Averaging Into Bitcoin Skip to main content

Personal Finance Guru Advises Dollar-Cost-Averaging Into Bitcoin

Personal finance guru Suze Orman says she recommends dollar cost averaging into bitcoin. She sees several upsides to the cryptocurrency, noting that it could “turn into a payment structure.”

Personal Finance Guru Bullish About Bitcoin, Advises Dollar Cost Averaging Into the Crypto

Personal finance guru and best-selling author Suze Orman has shared her view of why she is bullish about the price of bitcoin.

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.

In her recent Women & Money podcast, Orman advised her listeners how to invest in bitcoin and why she thought the cryptocurrency will perform well in the future.

In terms of how to get into bitcoin and how much to invest, Orman advised:

I think it’s something that you hold for the long term or you dollar cost average into it with very very little amounts.

While the amount varies from person to person, she gave $100 a month as an example.

As for where to buy bitcoin and other cryptocurrencies, Orman mentioned the Nasdaq-listed crypto exchange Coinbase and Sam Bankman-Fried’s FTX. Previously, she recommended Paypal. However, the company currently does not allow users to transfer cryptocurrencies away from its platform, something the CEO says will soon change.

Explaining why the price of bitcoin rallied recently, she cited Amazon’s job posting for a “Digital Currency and Blockchain Product Lead.” Orman pondered if the e-commerce giant is thinking about accepting bitcoin and other cryptocurrencies for payments. There were reports that the company will begin accepting BTC by the end of the year. However, Amazon denied the report, stating that there was no specific plan. Orman said, “When Amazon enters sth you have got to pay attention to it.”

Next, the financial expert pointed to Tesla, Elon Musk’s electric car company which began accepting bitcoin in March but suspended it due to environmental concerns. However, Musk recently said that Tesla will likely start accepting BTC again. Another reason, Orman noted was that there were 800 million shorts on bitcoin and, like Gamestop, they have to cover their shorts, which will send the price of BTC higher. She also said that all of a sudden wall street firms and venture capital firms are starting to invest again into companies dealing with bitcoin.

Furthermore, she noted that cryptocurrency could become a payment mechanism:

It seems that the direction bitcoin is going is that, unlike gold that can’t be used to make a purchase, it seems like people are starting to gear up where crypto isn’t just going to be something like gold. It really would possibly turn into a payment structure.

She added: “Now, if that were to happen where people are starting to take crypto as a payment then ethereum is a great place for you to look as well in terms of investing.”

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

Comments

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...

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...

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...

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...
Blogarama - Blog Directory