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Financial guru Dave Ramsey says cryptocurrencies can be “fun” and a small part of an investment portfolio. “It’s a commodity. Will they still exist? Sure there will be,” Ramsey said.

Dave Ramsey, finance guru and CEO of Ramsey Solutions, spoke about 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. They called it a get-rich-quick investment. Are you telling us not to get involved in cryptocurrencies?”

Ramsey replied, “No, as long as it’s money you can afford to lose, you can do whatever you want with it.” Pattern Trader please.

However, he warned: “We have people who mortgage their houses. There are people who are taking their pension out of their 401k and putting it into cryptocurrencies as if it’s a wealth-building best practice. It’s just not best practice,” he insisted, “but it’s a commodity: it’s a commodity.

Will they still exist? Sure there will be.”

He continued, “I think it’s kind of fun. I’m enjoying watching the whole thing and all of that.

But it’s an anomaly on the side. It shouldn’t be a big part of a wealth-building personal financial plan. It could be a small part – for entertainment.”

Ramsey has strayed far from his opinions when it comes to bitcoin and cryptocurrencies. In December 2020, on The Dave Ramsey Show, he expressed his doubts about cashing out $100,000 in BTC.

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“If you can really cash it out and you might find out it’s fun money but I hope you can,” he said.

He told his listeners in April last year: “I would cash it out tomorrow. However, I would not have gotten on board in the first place.” In May of last year he explained:

“We don’t advise people to invest in highly volatile, unpredictable assets. And currencies of any kind fall into this category. Bitcoin will be the most volatile among them, crypto would be the most volatile among them.”

Sources: PublicDomain on 01/18/2022

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