Financial guru Dave Ramsey says crypto is ‘fun’, here to stay, can be part of wallets

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Financial guru Dave Ramsey says crypto is “fun” and can be a small part of investment portfolios. “It’s a commodity. Is it going to be there? Of course it’s going to be there, ”Ramsey said.

Dave Ramsey now sees cryptocurrency as a commodity that’s here to stay

Personal finance guru and CEO of Ramsey Solutions, Dave Ramsey, discussed bitcoin and his new book titled “Baby Steps Millionaires” in an interview with Maria Bartiromo on Fox Business Tuesday.

Bartiromo asked him, “I know you warned about crypto. You called it a get-rich-quick investment. Are you telling us that we have zero exposure to crypto? Ramsey replied:

No, as long as the exposure is money you can afford to lose, it doesn’t matter what you want to do with it.

However, he cautioned, “We have people who mortgage their homes. We have people who are retiring from their 401k and throwing it into crypto like it’s a proven process to build wealth.

While noting that “it is just not a proven process,” he stressed:

It is a commodity. Is it going to be there? Of course, it’s going to be around.

He clarified, “I think it’s kinda funny. I like to watch all this and all that. But, it’s an anomaly on the side. It shouldn’t be a big part of a personal financial plan for building wealth. It could be a small part – for entertainment.

Ramsey has come a long way in his opinion regarding bitcoin and cryptocurrency. In December 2020, he expressed his doubts on the Dave Ramsey Show that $ 100,000 in BTC could be cashed out. “If you can really take it and you maybe find out it’s fun money, but I hope you can,” he said.

He told his listeners in April of last year: “I would cash everything tomorrow. I wouldn’t have been in there in the first place though. In May of last year, he explained, “We are not telling people to invest in very volatile and unpredictable investments. And currencies of any kind fall into this category. Bitcoin will be the most volatile of them, crypto will be the most volatile of them.

What do you think of Dave Ramsey’s comments regarding cryptocurrency? Let us know in the comments section below.

Kevin helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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