Personal finance expert Suze Orman joins ‘Influencers with Andy Serwer’ to tell us why she loves Bitcoin.
ANDY SERWER: All right, here is a question I’m dying to ask Suze Orman. What is your take on Bitcoin?
SUZE ORMAN: I love Bitcoin. On my Women and Money podcast, I think it was two or three weeks ago. I did an entire– I think I did two things on Bitcoin as to why I like it. I like the universality of it. I like that it’s just there and the corporations that are investing in it.
I do not like Bitcoin, Andy, as a currency. I like it, where you’re going to buy a Tesla, or you’re going to buy something with it. I like it as a possible replacement for gold, as an investment. And I personally played Bitcoin through micro strategies.
In June of last year, I bought micro strategies at about $125 a share, right around there, I believe. And there was something about the CEO that was just, this man’s making sense to me. I rode it all the way up, and I sold. I think it was last week at right about $1,000 a share, because I didn’t like, for the first time, Bitcoin was going up. But micro strategies was going down.
Now, what I tell my listeners and what I would tell everybody, Bitcoin is seriously risky. I would not be investing in Bitcoin with money that I could not afford to lose, because the swings are not just going to be a point or two a day. They’re going to be $5,000 worth one day. It’s going to be up 7%, down 10%.
It’s going to be all over the place, but I think it’s something that wouldn’t hurt people maybe, if they had it to lose, $100 a month in. And I personally would do it through PayPal, because PayPal makes it so easy. And it’s not that big of a hit given in terms of commission. It’s
Like 1.5%, 2%, depending on how much you’re investing every month. I don’t think that big of a to really just see what happens over the years, but I happen to like Bitcoin. And I like the premise behind it a lot, and I really love how Cathy Wood loves Bitcoin. I love that a lot.