Monday, August 15, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • CCPA
  • DMCA
News Two Daily News
  • Home
  • Headlines
  • US News
  • World
  • Sports
  • Business
  • Technology
  • Entertainment
  • Science
  • Health
No Result
View All Result
  • Home
  • Headlines
  • US News
  • World
  • Sports
  • Business
  • Technology
  • Entertainment
  • Science
  • Health
No Result
View All Result
Morning News
No Result
View All Result
Home Business

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

  • Sponsored results for Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to

  •  
December 28, 2020
in Business
Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to


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.

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.

Tags in this story
BTC, dave ramsey bitcoin, dave ramsey bitcoin advice, dave ramsey btc, dave ramsey crypto, dave ramsey cryptocurrency, financial guru,



Read More News: Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to

Tags: AdvisesBitcoinBTCCashedDaveDoubtsfinancialGuruinvestorRamsey

Related Posts

High oil prices help Saudi Aramco earn $88B in first half
Business

High oil prices help Saudi Aramco earn $88B in first half

August 14, 2022
Market Rally Runs Up To Key Test; Here’s What To Do Now
Business

Market Rally Runs Up To Key Test; Here’s What To Do Now

August 13, 2022
Delta plane hits another plane at Logan Airport
Business

Delta plane hits another plane at Logan Airport

August 13, 2022
Fed expected to stick with hawkish rate hikes until data show further slowing in
Business

Fed expected to stick with hawkish rate hikes until data show further slowing in

August 12, 2022
Today’s Stock Market News: Stocks Mostly Rise After Nasdaq Enters Bull Market
Business

Today’s Stock Market News: Stocks Mostly Rise After Nasdaq Enters Bull Market

August 11, 2022
Walgreens helped fuel San Francisco’s opioid crisis, judge rules
Business

Walgreens helped fuel San Francisco’s opioid crisis, judge rules

August 10, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trend Today

Peru President, Martín Vizcarra, Survives Impeachment Vote

Peru President, Martín Vizcarra, Survives Impeachment Vote

September 19, 2020
Suspect killed in shootout with officers in Midvale, 3 others arrested

Suspect killed in shootout with officers in Midvale, 3 others arrested

September 19, 2020
Presentation Pac-12 presidents and chancellors saw before postponing sports featured

Presentation Pac-12 presidents and chancellors saw before postponing sports featured

September 18, 2020
US to declare UN sanctions reimposed on Iran despite disagreement from allies

US to declare UN sanctions reimposed on Iran despite disagreement from allies

September 17, 2020
Hurricane Sally unleashes

Hurricane Sally unleashes

September 16, 2020

EDITOR'S PICK

Shericka Jackson Explains How It Felt To Run That Fast In The 200m

Shericka Jackson Explains How It Felt To Run That Fast In The 200m

July 22, 2022
Coronavirus viral load in children 16 TIMES smaller than in over-80s

Coronavirus viral load in children 16 TIMES smaller than in over-80s

January 18, 2021
Fed expected to stick with hawkish rate hikes until data show further slowing in

Fed expected to stick with hawkish rate hikes until data show further slowing in

August 12, 2022
Missile kills at least 52 at crowded Ukrainian train station

Missile kills at least 52 at crowded Ukrainian train station

April 9, 2022

Headlines

Ukraine targets Russian soldiers accused of threatening nuclear plant

Ukraine targets Russian soldiers accused of threatening nuclear plant

August 14, 2022
GLWA issued water boil advisory for 23 communities, lifts 10

GLWA issued water boil advisory for 23 communities, lifts 10

August 13, 2022
House Passes Sweeping Climate, Tax and Health Care Package

House Passes Sweeping Climate, Tax and Health Care Package

August 13, 2022
Anne Heche ‘not expected to survive’ after fiery crash, rep says

Anne Heche ‘not expected to survive’ after fiery crash, rep says

August 12, 2022

Sports

Taiwo Awoniyi snatches Nottingham Forest edge against West Ham United | Premier

Taiwo Awoniyi snatches Nottingham Forest edge against West Ham United | Premier

August 14, 2022
NFL training camp 2022 tracker: Browns C Nick Harris ‘likely’ needs season-ending

NFL training camp 2022 tracker: Browns C Nick Harris ‘likely’ needs season-ending

August 13, 2022
Padres star Fernando Tatis Jr. suspended 80 games for violating MLB’s PED policy

Padres star Fernando Tatis Jr. suspended 80 games for violating MLB’s PED policy

August 13, 2022
‘It shocks the conscience.’ Vanessa Bryant’s lawyer says photos from Kobe’s

‘It shocks the conscience.’ Vanessa Bryant’s lawyer says photos from Kobe’s

August 12, 2022

World

Palestinian gunman wounds eight in Jerusalem attack

Palestinian gunman wounds eight in Jerusalem attack

August 14, 2022
Meet Putin’s inner circle of evil, from Nikolai Patrushev to Ramzan Kadyrov

Meet Putin’s inner circle of evil, from Nikolai Patrushev to Ramzan Kadyrov

August 13, 2022
Ukraine Estimates Sharply Higher Russian Casualty Toll in Crimea Blasts

Ukraine Estimates Sharply Higher Russian Casualty Toll in Crimea Blasts

August 13, 2022
Explosions at Russian base show Crimea now in play in Ukraine war

Explosions at Russian base show Crimea now in play in Ukraine war

August 12, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • CCPA
  • DMCA

© 2020 Newstwo.net

No Result
View All Result
  • Home
  • Headlines
  • US News
  • World
  • Sports
  • Business
  • Technology
  • Entertainment
  • Science
  • Health

© 2020 Newstwo.net

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously