Suze Orman is no outsider to the Cryptocurrency world. She is one of the most sought-after financial advisors when it comes to analyzing Bitcoin. Orman has written ten consecutive New York Times best-sellers in the niche of personal finance.
She is an American financial advisor, podcast host, and author. She set up the Suze Orman Financial Group in 1987, and her work acquired prominence with The Suze Orman Show.
She recently revealed that bitcoin could go down up to $12k but says she will not sell it no matter what. In an interview released with Nextadvisor on Thursday (June 24th), she was asked how much bitcoin she owns?
She replied she owns $5000 Bitcoin this very moment, all thanks to the purchase she made last year by buying MicroStrategy Inc. stock (NASDAQ: MSTR)
Orman says she bought the stocks of MicroStrategy Inc at $125 per share instead of directly buying bitcoin as she found it simpler and didn’t know how to buy a large amount of bitcoin.
Also, she didn’t wanted to get one of those wallets. As per Orman, one more strong reason she invested in MicroStrategy is that the CEO invested the entire working capital into Bitcoin.
She thought if the price of Bitcoin goes up, then automatically, the price of her stocks will rise.It happened the same way, the stock went from $125 to $1,030, and she sold it.
Concern about China and the US
She is now concerned about Bitcoin as what’s happening in China, whether they allow Bitcoin or go with their Cryptocurrency.
Another thing which is also concerning her is the US regulating Bitcoin, but that does not stop her from loving Bitcoin. As per Orman, from the price of Bitcoin today, which is in the range of $32,000, it could drop down to the $12,000 range but advises to hold on to your Bitcoin for a long time from now if you intend to buy one or already own one.
Her final words of advice for Bitcoin investors,
“I would view it as an investment, and I would view it as a seriously speculative investment at this point, and I would then see what happens with it, but I think it should be a part of your portfolio as long as you can afford to lose that money and you’re going to keep it for a seriously long period.“
According to Orman, Bitcoin is an investment of a long time and not something one should buy to make short-term gains and mentions it should be a part of your portfolio for as long as you can hold on to it.
