American financial queen Suze Orman looks at BTC: I love Bitcoin and should treat it as a long-term investment

Bitcoin has been recognized by another well-known figure in traditional finance. Suze Orman, a billionaire financial guru and special contributor to Oprah magazine, told CNBC that Bitcoin should be considered a long-term investment. She said: "As long as you can afford to lose, I don't mind you investing in Bitcoin... In the long run, you have to stick with it."

Orman has previously stated that she personally sees Bitcoin as a store of value and an alternative to gold.

But Orman warned that Bitcoin could still fall back to lows of around $30,000 or even $26,000.

Suze Orman is hailed as the "female financial authority" by USA Today. The three financial books she wrote have been on the New York Times bestseller list for consecutive years, with a circulation of over 25 million copies and versions in 12 languages ​​around the world.

Bitcoin has surged in the past few years, gaining some mainstream support from corporations and big banks. However, it is a volatile investment, leading many financial experts to urge caution among retail investors who want to buy in big.

A recent survey by the Financial Planning Association and the Journal of Financial Planning found that 14% of financial advisors are currently using or recommending investing in cryptocurrencies.

Orman argues that it is a legitimate investment over time, with large companies pouring hundreds of millions of dollars into it.

Most importantly, young Americans love it, she said.

Tesla CEO Elon Musk said on Sunday that the electric car maker will accept bitcoin transactions again in the future. Bitcoin prices continued to rise on Monday after billionaire hedge fund manager Paul Tudor Jones told CNBC he is bullish on the cryptocurrency.

Similarly, in May, when Musk tweeted that Tesla had suspended the use of the cryptocurrency to purchase cars, the price fell about 5% within minutes.

“I don’t like the idea of ​​one person coming out and saying something and taking control of the market,” Orman said. “Will the government come in and start regulating it? I don’t know, but I still think in the long run … there’s some investment in Bitcoin out there.”

Orman also suggested that if investors don’t like investing in Bitcoin or any other cryptocurrency, there are other ways to get exposure, such as some companies that invest in Bitcoin or related technologies.

Orman revealed that she participated in Bitcoin investment through MicroStrategy. She bought it at $125 per share in June last year, almost at the starting point, and later sold it at $1,030 per share.

She also favors payments company Square, which bought $170 million worth of bitcoin in February. Earlier this month, CEO Jack Dorsey said the company was considering building a hardware bitcoin wallet.

“Besides simply buying the cryptocurrency itself, there are other ways to participate,” Orman said.