• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to Sell Now

by
December 28, 2020
in Uncategorized
0
Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to Sell Now
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to Sell Now

Personal finance guru Dave Ramsey has given advice about bitcoin to a man who made over $100,000 by investing just $1,500 in the cryptocurrency. Ramsey repeatedly expressed his doubt that bitcoin can be cashed out, calling the cryptocurrency “funny money.” He recommends selling bitcoin immediately.

Related articles

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could

March 3, 2021

3 key Ethereum price metrics show pro traders are aiming for $2K ETH

March 3, 2021

Dave Ramsey Suspicious of Bitcoin

Famous radio show host and best-selling author Dave Ramsey gave advice about bitcoin on his Dave Ramsey show aired on Wednesday. Daniel from Salt Lake City, Utah, called into the show to get Ramsey’s advice as his income was about to drop when he goes back to school. Daniel mentioned that he invested about $1,500 in bitcoin in 2014 and has made about $120,000 off of it so far.

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.

Daniel explained that since the bitcoin investment was small, he “just bought it” and “just left it,” noting that he “never did anything with it.” He asked Ramsey for his view on the investment.

“Are you saying you can cash it out today for 100 grand?” Ramsey quickly asked the bitcoin investor. “For sure,” he replied.

Ramsey proceeded to educate the man. “There’s a process in finance called sunk cost analysis. If you don’t cash it out today, in the morning, you would have invested $100,000 into bitcoin. That should scare your brains out,” he exclaimed. “It’s not $1,500, it’s $100,000, every day you leave it there, you are reinvesting into this again.” The famous radio show host then advised:

By nightfall, dude, cash it.

He added that bitcoin is “going over 50% of your freaking net worth. It’s on the roulette table, on one roll of the dice,” reiterating:

If you really can cash it out and you might find out that this is funny money but I hope you can … I hope that you can cash it out when you go to do it tonight.

“I’m suspect when I hear $1,500 turns into $100,000. I’m really suspect,” he continued. “I hope you don’t find other things when you go try to cash it out. But those numbers are bizarre.”

Ramsey further cautioned the man that “If you are able to cash it out, the other danger is that you actually pulled off this crap once and it’s gonna tempt you to do it again.”

In conclusion, he said that ultimately, “You do whatever you want to do but I am not a fan of ultra high-risk investments, and at a minimum that’s what we would call bitcoin.”

What do you think of Dave Ramsey’s advice about bitcoin? Let us know in the comments section below.

The post Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to Sell Now appeared first on Bitcoin News.

Share76Tweet47

Related Posts

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could

by
March 3, 2021
0

The creator of the notorious stock-to-flow model (S2F), Plan B has recently detailed that the price of bitcoin has surpassed...

3 key Ethereum price metrics show pro traders are aiming for $2K ETH

by
March 3, 2021
0

Multiple data points show investors are strongly bullish on Ethereum price even after ETH’s recent 36% correction below $1,300. On...

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

by
March 3, 2021
0

Bitcoin price is back above $50,000 after a short-lived correction in the range below the key level. However, since the...

Price analysis 3/3: BTC, ETH, ADA, BNB, DOT, XRP, LTC, LINK, BCH, XLM

by
March 3, 2021
0

Now that Bitcoin price has flipped $50,000 back to support, small and large-cap altcoins are gearing up for a move...

Badger DAO announces $21 million treasury diversification via VC partners

by
March 3, 2021
0

Badger DAO has welcomed some deep-pocketed investors into the community with an asset sale aimed at de-risking the treasury portfolio....

Load More
  • Trending
  • Comments
  • Latest
Grayscale CEO outlines 6 themes that will shape crypto market in 2021

Grayscale CEO outlines 6 themes that will shape crypto market in 2021

January 20, 2021
GrayScale Reopens ETHE Buying

GrayScale Reopens ETHE Buying

February 1, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0

Bitcoin to Reach $100K to $288K in 2021? Stock-to-Flow Models Suggest It Could

March 3, 2021

3 key Ethereum price metrics show pro traders are aiming for $2K ETH

March 3, 2021
Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

March 3, 2021

Price analysis 3/3: BTC, ETH, ADA, BNB, DOT, XRP, LTC, LINK, BCH, XLM

March 3, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • altcoin
  • Altcoin News
  • altcoins
  • Altseason
  • Basic Attention Token (BAT)
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • Binance Smart Chain (BSC)
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • Cardano (ADA)
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Grayscale Investments
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • WallStreetBets
  • Weiss Ratings
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.