Orman has “written ten consecutive New York Times bestsellers about personal finance. She was named twice to the Time 100 list of influential people, has won two Emmy Awards, and eight Gracie Awards.”
Orman replied that although she only owns $5000 BTC at the moment, last year she bought exposure to Bitcoin by buying MicroStrategy Inc. stock (NASDAQ: MSTR)
“I do own crypto… However, I only own $5,000 right now of Bitcoin… last year I went in and I bought a company by the name of MicroStrategy that was at $125 dollars a share back then and I put a considerable amount of money into that stock and the reason that I did so is that truthfully I didn’t really know how to buy a large amount of Bitcoin… Coinbase was aggravating me… It was just too complicated for me, even though it’s not complicated at all. I didn’t want to get one of those wallets…
“So I bought MicroStrategy because the CEO was putting 100% of their working capital, all the cash that this company had, into Bitcoin… I thought ‘oh if Bitcoin goes up, the price of his stock will go up… So, that’s how I did it… So the stock went from $125 to $1,030 and that’s where I sold. It’s now about $400…
“I own now $5,000 of bitcoin and I do it through PayPal because it was just easy to do it, but I’m a little concerned about Bitcoin right now because I’m afraid of what’s happening in China and how they’re doing their cryptocurrency and what they’re going to allow and not. I’m concerned that the United States is going to get involved in regulating it, but even with all of that said, I still am a fan of Bitcoin.
“I think it’s absolutely possible that it could go down from $32,000 or $34,000, which it is today, back down to maybe even $12,000 or $15,000, but if you’re going to buy Bitcoin you buy it and you keep it now for a long long time. I just don’t see Bitcoin as that you buy it and then it goes up you sell it and then it might continue to go up and then you missed out on it… I don’t plan to sell even my little amount no matter what.“
Her final words of advice about investing in Bitcoin were:
“I would view it as an investment and I would view it as a seriously speculative investment at this point in time 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 of time.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.