Financial guru Dave Ramsey says crypto is “fun” and could be a small half of funding portfolios. “It’s a commodity. Is it going to be around? Sure, it’s going to be around,” Ramsey stated.
Dave Ramsey Now Considers Cryptocurrency a Commodity That Is Here to Stay
Personal finance guru and Ramsey Solutions CEO Dave Ramsey mentioned bitcoin and his new e-book titled “Baby Steps Millionaires” in an interview with Maria Bartiromo on Fox Business Tuesday.
Bartiromo requested him: “I know that you warned against crypto. You called it a get-rich-quick investment. Are you telling us that we do not have any exposure to crypto?” Ramsey replied:
No, so long as the publicity is cash you may afford to lose, no matter you need to do with that.
However, he cautioned: “We’ve got people mortgaging their homes. We’ve got people taking their retirement out of their 401k and dumping it into crypto as if it is a proven process to build wealth.”
While noting that “It’s just not a proven process,” he burdened:
It’s a commodity. Is it going to be round? Sure, it’s going to be round.
He elaborated: “I think it’s kind of fun. I enjoy watching the whole thing and all that. But, it’s an anomaly on the side. It shouldn’t be a big part of a personal financial plan to build wealth. It could be a small part — for entertainment.”
Ramsey has come a good distance in his view concerning bitcoin and cryptocurrency. In December 2020, he expressed his doubt on the Dave Ramsey Show that $100,000 in BTC might be cashed out. “If you really can cash it out and you might find out that this is funny money but I hope you can,” he stated.
He instructed his listeners in April final yr: “I would cash it all out tomorrow. I wouldn’t have been in it in the first place though.” In May final yr, he defined: “We do not tell people to invest in highly volatile, unpredictable investments. And currencies of any kind fall in that category. Bitcoin will be the most volatile among those, crypto would be the most volatile among those.”
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