Why Suze Orman Believes Everyone Should Own Bitcoin and the Reasons Behind It
Cryptocurrency enthusiasts have various rationales for holding bitcoin and other popular digital currencies. Some argue that bitcoin can function as a store of value similar to precious metals like gold due to its limited availability. Others view bitcoin as a potential long-term hedge against inflation. There are also those who find appeal in bitcoin’s utility as a currency and opt to hold it in anticipation of a potential collapse of traditional currencies.
Financial expert Orman, however, does not share these perspectives. She believes that as younger individuals accrue wealth and mature, bitcoin will become a preferred investment choice, leading to its appreciation. Orman does not foresee bitcoin evolving into a widely accepted currency or store of value. Yet, she acknowledges the younger generation’s fascination with bitcoin and the growing interest in it, suggesting that this enthusiasm could fuel a significant surge in its value.
Statistics indicate that approximately 70% of cryptocurrency ownership is concentrated among millennials and Gen Z investors, despite these two demographic groups representing only 41% of the population, as reported by Morning Consult.
Orman’s argument centers on the notion that cryptocurrency functions as a speculative asset, driven not by underlying fundamentals but by investor demand. She posits that the allure of crypto will continue to attract more speculators. While acknowledging the potential for volatility, Orman contends that those willing to weather market fluctuations could witness substantial growth in their investment portfolios over time.
According to Orman, investing in cryptocurrency carries a high level of risk, with the possibility of either losing everything or seeing substantial appreciation, potentially reaching values of $100,000 or $200,000. This speculative nature underscores the importance of careful consideration and risk tolerance when venturing into the realm of digital assets.
