On her recent Women & Money podcast, Orman advised her listeners on how to invest in Bitcoin and shared why she thought the cryptocurrency would perform well in the future. In terms of how to get into Bitcoin and how much to invest, Orman advised: “I think it is something that is held for the long term or has a dollar average cost with very, very small amounts.” While the amount can vary from person to person, she gave as an example that it could be an investment of $ 100 per month.
As Orman speaks to a general public, and not crypto experts, as to where to buy BTC and other cryptocurrencies, Orman mentioned the Nasdaq-listed Coinbase exchange and Sam Bankman-Fried’s FTX exchange. Previously, I had recommended Paypal. However, the company does not currently allow users to transfer cryptocurrencies outside of its platform.
He also spoke about Tesla, The company of Elon musk, which started accepting BTC in March but suspended it due to environmental concerns. However, Musk recently said that Tesla will likely start accepting BTC again.
Furthermore, he noted that cryptocurrency could become a payment mechanism, explaining: “It seems that the direction Bitcoin is heading is that unlike gold which cannot be used to make a purchase, people are starting to prepare so that cryptocurrencies are not just something like gold. Really, it would possibly become a payment structure. “
Orman added: “Now, if that happened when people are starting to take cryptocurrencies as payment, then Ethereum is a great place for you to look in terms of investment as well.”
“Personally, I think that as time goes on, something will have to change with the way we use the currency. So you just have to put money there to see what happens. “