Financial Guru Dave Ramsey Advises What to Do With Bitcoin Investments

By Kevin Helms7 days ago

AD

Personal finance expert Dave Ramsey has given some advice on what to do with bitcoin investments. While acknowledging that the cryptocurrency has had a “fabulous” run, Ramsey still prefers putting his money in more “proven” investments.

Dave Ramsey Still Not a Fan of Bitcoin

Famous radio show host and best-selling author Dave Ramsey gave some advice about bitcoin on The Dave Ramsey Show last week.

The self-proclaimed personal money management expert, Ramsey calls himself “America’s trusted voice on money.” He is the author of seven best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership, Dave Ramsey’s Complete Guide to Money, The Legacy Journey, and Smart Money Smart Kids. Altogether, they have sold more than 11 million copies.

Ray from Louisville, Kentucky, called into The Dave Ramsey Show to ask for advice about his bitcoin investment. “In late 2019, my income roughly tripled,” he began telling his story. “And in 2020, I got real aggressive with paying off debt and I was able to clear off a motorcycle debt, all credit cards, and the last two items are now a house and a car.” He also bought BTC last year. “I bought bitcoin, and it’s ballooned into this huge account now, worth roughly a hundred thousand dollars.”

He added: “One of the things I want to do with it is obviously pay off the car but it’s not quite enough to pay off the house, so I guess my question is do I wait with this volatile asset or do I sell it and move into something more traditional?” While noting that over the course of 2020, his BTC investment rose 649% and “the expectations are that it could go even higher,” he said bitcoin “is a volatile asset” that “swings now every day.” He admitted: “I’m just nervous about keeping this large amount of cash in this volatile asset but still having to worry about a house that I’d like to pay off in the meantime.”

Continue read on bitcoin.com