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Suze Orman Believes in Bitcoin's [BTC] Potential, Says Everybody Should Have Exposure to It

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2024-09-10 09:03:14283browse

Bitcoin [BTC] has been facing challenges in breaking past the $60K barrier, despite a 1.21% gain in the last 24 hours

Suze Orman Believes in Bitcoin's [BTC] Potential, Says Everybody Should Have Exposure to It

Despite a 1.21% gain in the last 24 hours, Bitcoin [BTC] seems to be struggling to cross the $60K barrier. At press time, its price was $55,224, according to CoinMarketCap.

However, despite these struggles, renowned financial advisor and host of the “Women & Money” podcast Suze Orman recently highlighted the importance of owning Bitcoin.

In an interview with CNBC Make It, Orman noted how the next generation of investors could play a pivotal role in shaping the future of cryptocurrency.

In her words,

“Everybody should absolutely have exposure to bitcoin. But in case I’m wrong — and I’ve been wrong — you gotta be OK with losing that money. So put as much money in there as you’re OK losing.”

This statement is surprising, considering that she has been one of the crypto skeptics in the past.

However, while many crypto enthusiasts cite a variety of reasons to hold Bitcoin, such as it being a store of value or a long-term hedge against inflation, Orman holds a different view.

She noted,

“As younger people make more money and mature, [bitcoin] will be one of their investments of choice, and that will cause it to go up.”

She further added,

“I don’t think it will ever be a currency or a store of value. But because the younger generation has a fascination with it — and you see the energy — a whole lot of people having interest in it, eventually it could very well catch fire.”

This sentiment was further supported by a recent survey from Triple.A, which revealed that over 560 million people globally own cryptocurrencies.

The survey highlighted that 34% of cryptocurrency owners were between 25 and 34 years old. Additionally, 65% of the global population expressed a desire to use cryptocurrency for payments.

Is Bitcoin’s bullish momentum possible?

That being said, despite Bitcoin’s current price decline, several indicators suggest it may be preparing for a bull run.

One key indicator is the widening Bollinger Bands, which signals increased volatility that could drive the price higher.

Although Bitcoin was resting near the lower band at press time, suggesting a bearish trend, a similar pattern was observed a month ago before BTC surged to $65K, hinting at a potential repeat.

Additionally, Vivek, founder of Bitgrow Lab, has drawn parallels between Bitcoin’s price patterns from 2014-2017 and the current trend from 2022-2025.

He believed that these historical patterns indicate Bitcoin is poised for an upcoming bull run.

Furthermore, AMBCrypto’s analysis of IntoTheBlock data on market sentiment showed that bulls have dominated with 13 bullish signals compared to 12 bearish ones, indicating a bullish trend overall.

Hence, If Bitcoin can break through the resistance level at $59,993, it could signal the start of a bull run.

In the words of “The Bitcoin Energy Standard,”

“In the matrix of finance, #Bitcoin is the only real choice.”

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