Dave Ramsey issues blunt warning on Bitcoin

The personal finance expert explains why he's cautious on the cryptocurrency.

Transcript

00:00Investing is a long-term time horizon. Gold is not a good long-term investment.

00:06The track record long-term sucks on gold. The track record on Bitcoin is non-existent

00:12because there's only just a few years it's been in existence.

00:15And when you look at the, when you chart the volatility of it during that time,

00:18I mean, it's cray-cray. It's just nuts. And so it's definitely a gamble.

00:24It's a speculation. And so if you want to speculate with some of your money

00:27and you like Bitcoin, fine. I think Bitcoin is here to stay.

00:31I think it's going to stabilize. It's going to become more and more legitimate,

00:34less and less volatile. I'm not scared of that part of it,

00:36but it's not a long-term investment. There's not enough track record to call it that.

00:41And so, yeah, if you say it's an investment, no, I say it's wacko when you say investment.

00:44If you say, I want to speculate in it, I want to put some money in the middle of the table

00:47that I would play on the roulette wheel. Yeah, that's fine.

00:50But don't put your freaking 401k or think I'm going to retire and not eat dog food

00:54if I put all my money in Bitcoin.

00:58So, yeah, let's maintain that.

00:59What's the thing?

00:59Do it?

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