The personal finance expert explains why he’s cautious on the cryptocurrency.
Transcript:
Dave Ramsey: Investing is a long term time horizon. Gold is not a good long term investment. The track record long term sucks on gold. The track record on Bitcoin is non-existent because there’s only just a few years it’s been in existence. And when you look at it, when you chart the volatility of it during that time, I mean, it’s Cray Cray. It’s just nuts. And so it’s definitely a gamble. It’s a speculation. And so if you want to speculate with some of your money. And you like Bitcoin fine I think Bitcoin is here to stay. I think it’s going to stabilize. It’s going to become more and more legitimate, less and less volatile. I’m not scared of that part of it. But it’s not a long term investment. There’s not enough track record to call it that. And so Yeah, if you say it’s an investment, no, I say it’s wacko. When you say investment, if you say I want to speculate in it, I want to put some money in the middle of the table that I would play on the roulette wheel. Yeah, that’s fine, but don’t put your freaking 401(k) or think I’m going to retire and not eat dog food if I put all my money in Bitcoin.
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