This species is listed as Vulnerable. It is threatened by grazing, habitat loss and fragmentation and because of its small number of extant populations and low number of plants. The species is insect-pollinated, which may limit the pollen dispersal range to approximately 250 m. Widespread pollen sterility and low genetic diversity has been recorded in populations of this species.
Its highly decorative foliage has led to it being grown commercially as an ornamental and for cut foliage for the florist industry, where it is known as 'Florists Silver Dollar'. The species is also used widely as a landscaping specimen, especially in California in the United States of America.