Although many remain wary of the cryptocurrency, bitcoin has garnered a wave of support in recent months — in February alone, fintech company Square and enterprise software company MicroStrategy bought large sums of additional bitcoin to add to their existing portfolios, while electric car company Tesla added billions of dollars worth of the coin to its balance sheet. I like that it's there and the corporations that are investing in it.
But, Orman clarifies, she doesn't see bitcoin as an alternative to fiat currency — "I do not like bitcoin as a currency. I don't like it where you're going to buy a Tesla or something with it. I like it as a possible replacement for gold, as an investment. Billionaire investor Mark Cuban recently argued that bitcoin will be a better store of value than gold, and he sees its value as an asset rather than a currency.
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It's not going to be a hedge against fiat and printing too many dollars. Despite her love for the cryptocurrency, Orman warns: "[B]itcoin is seriously risky. He says Facebook's Libra is the future. Lawmakers aren't so sure.
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What is an ICO? Yeah, I do, because it's so much more functional than passing a bar of gold around," Rieder said. The all-time high is in sight.