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Why Suze Orman says she 'loves Bitcoin'

Yahoo Finance Video

Personal finance expert Suze Orman joins 'Influencers with Andy Serwer' to tell us why she loves Bitcoin.

Video transcript

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.

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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.