Finance guru Dave Ramsey says crypto is “interesting” and can be a small part of an investment portfolio. “It’s a commodity. Will it be around? Of course, it will be there,” Ramsay said.
Dave Ramsey now thinks cryptocurrencies are a commodity that can survive
Personal finance guru and CEO of Ramsey Solutions Dave Ramsey discusses Bitcoin and his new book, “Baby Steps Millionaires,” in an interview with Maria Bartiromo on Fox Business on Tuesday.
Bartiromo asked him, “I know you warned about cryptocurrencies. You call it get-rich-quick investing. Are you telling us we’re not exposed to cryptocurrencies?” Ramsay replied:
No, as long as the exposure is what you can afford to lose, whatever you want to do with it.
However, he warned: “We let people mortgage their homes. We let people retire from their 401k and dump it into cryptocurrency as if it were a proven wealth-building process.”
While noting that “this is not a proven process,” he emphasized:
It is a commodity. Will it be nearby? Of course, it will be around.
He explained: “I think it’s interesting. I love watching the whole thing and all of that. But, it’s an anomaly. It shouldn’t be a big part of a personal financial plan to build wealth. It might just be a small part of it. – for entertainment.”
Ramsey has come a long way with his views on Bitcoin and cryptocurrencies. In December 2020, he Express His doubts about the $100,000 Dave Ramsey Show bitcoin Cashable. “If you could actually cash in, you might find it a ridiculous amount of money, but I hope you can,” he said.
he tell his audience Last April: “I’ll cash in all tomorrow. I’m not going to be involved in the first place, though.” Last May, he explain: “We don’t tell people to invest in highly volatile, unpredictable investments. Any kind of currency falls into this category. Bitcoin will be the most volatile of them all, and cryptocurrencies will be the most volatile of them all.”
What do you think of Dave Ramsey’s comments on cryptocurrencies? Let us know in the comments section below.
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