Dave Ramsey has shown multiple stances when it comes to his views on crypto. The CEO of Ramsey Solutions and personal finance guru had previously warned people against investing in crypto mindlessly. Now he seems to have changed and opened up his mind. In a recent interview with the Fox network, Dave Ramsey said that cryptocurrencies, particularly Bitcoin, are here to stay. He also added that people should diversify their portfolios with some percentage of Bitcoin holdings. Previously he had called Bitcoin a quick get rich scheme and hinted at it being a bubble. At the same time, Ramsey is not the only person to change their minds about crypto. Many financial gurus have spoken positively about crypto while being skeptical at first. Ramsey’s interview made it evident that his views on crypto have changed considerably.
While Ramsey did speak in favor of crypto, it is important t understand his nuanced way of speaking. In multiple instances, he urged investors to only consider the crypto investment as a luxury. For example, he was skeptical of people taking money out of their retirement fund to invest in crypto. Similarly, he was skeptical of anyone who relied on crypto excessively. According to Ramsey, crypto is not a proven method of wealth generation. While it has its advantages and merits, it is still far from being a safe and regulated investment instrument. If taken with a pinch of salt, Ramsey’s statements about crypto have merit to them and can influence young investors for the good.