Take a look at bitcoin's price chart, and it's easy to see the appeal for investors. The largest and most widely traded cryptocurrency is up 118% over the past 12 months, and returns have been astronomical since the coin's creation in 2009.
Bitcoin's stellar performance over the past 12 months is undeniable, with the largest cryptocurrency surging 118%. However, despite its impressive gains, many established figures in the investing and personal finance realm remain skeptical of bitcoin.
Financial podcaster Dave Ramsey has likened buying bitcoin to investing in the Iraqi dinar, an unstable currency lacking the robust government backing of the U.S. dollar. Given bitcoin's volatility, Ramsey stated, "I wouldn't wish bitcoin investments on someone I really dislike."
Berkshire Hathaway Chair Warren Buffett is also not a fan of bitcoin. As the cryptocurrency does not generate earnings or produce cash flow, Buffett once remarked that he wouldn't pay $25 for the entire world supply of bitcoin.
In contrast to these naysayers, financial expert and host of "Women & Money (and Everyone Smart Enough to Listen)" Suze Orman includes bitcoin in her portfolio and advises others to consider holding some as well.
"Everybody should absolutely have exposure to bitcoin," Orman tells CNBC Make It. "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."
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