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When it comes to investing, Suze Orman has long been cautious about cryptocurrencies. For years, her advice was clear: only put money into Bitcoin that you could afford to lose. But on a recent episode of her “Women & Money” podcast, the personal finance expert shared that her perspective is shifting as digital assets become more mainstream.
During the episode, a listener named Gina wrote in to say she had tried to buy a Bitcoin exchange-traded fund, or ETF — specifically, BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) — through her Merrill Edge account. To her surprise, the platform restricted the purchase, citing the risks associated with Bitcoin investments.
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Merrill Lynch, which operates Merrill Edge, has held a cautious stance on cryptocurrency. Customer service told Gina that no Bitcoin-related purchases were allowed on the platform.
Gina wanted to know if there was a way around this restriction.
Orman’s response was straightforward. “Obviously they won’t allow you to do it,” she said. If Gina really wanted to add Bitcoin to her portfolio, Orman suggested opening an account at firms like Charles Schwab (NYSE:SCHW) or Fidelity, which currently allow investors to purchase Bitcoin ETFs.
This advice reflects a broader trend. Many large brokerage firms have begun to embrace cryptocurrency products, particularly since the Securities and Exchange Commission approved spot Bitcoin ETFs last year.
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What stood out most from Orman’s response was her update on how she views Bitcoin itself. She acknowledged that she used to advise investing only with money you could afford to lose. But now, she says she feels more comfortable with it.
“As it goes higher and higher in value, as major banks are starting to actually participate in it, I’m starting to feel better about it,” Orman explained.
While she still emphasized moderation, she said she had no problem with someone putting a small portion of their portfolio — perhaps around 5% — into a Bitcoin ETF like IBIT.