![\"Financial](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/12\/dave-ramsey-bitcoin-768x432.jpg\")
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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 \u201cfunny money.\u201d He recommends selling bitcoin immediately.<\/strong><\/p>\n 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\u2019s 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.<\/p>\n The self-proclaimed personal money management expert, Ramsey calls himself \u201cAmerica\u2019s trusted voice on money.\u201d He is the author of seven best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership, Dave Ramsey\u2019s Complete Guide to Money, The Legacy Journey, and Smart Money Smart Kids. Altogether, they have sold more than 11 million copies.<\/p>\n Daniel explained that since the bitcoin investment was small, he \u201cjust bought it\u201d and \u201cjust left it,\u201d noting that he \u201cnever did anything with it.\u201d He asked Ramsey for his view on the investment.<\/p>\n \u201cAre you saying you can cash it out today for 100 grand?\u201d Ramsey quickly asked the bitcoin investor. \u201cFor sure,\u201d he replied.<\/p>\n Ramsey proceeded to educate the man. \u201cThere\u2019s a process in finance called sunk cost analysis. If you don\u2019t cash it out today, in the morning, you would have invested $100,000 into bitcoin. That should scare your brains out,\u201d he exclaimed. \u201cIt\u2019s not $1,500, it\u2019s $100,000, every day you leave it there, you are reinvesting into this again.\u201d The famous radio show host then advised:<\/p>\n By nightfall, dude, cash it.<\/p>\n<\/blockquote>\n He added that bitcoin is \u201cgoing over 50% of your freaking net worth. It\u2019s on the roulette table, on one roll of the dice,\u201d reiterating:<\/p>\n If you really can cash it out and you might find out that this is funny money but I hope you can \u2026 I hope that you can cash it out when you go to do it tonight.<\/p>\n<\/blockquote>\n \u201cI\u2019m suspect when I hear $1,500 turns into $100,000. I\u2019m really suspect,\u201d he continued. \u201cI hope you don\u2019t find other things when you go try to cash it out. But those numbers are bizarre.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n Ramsey further cautioned the man that \u201cIf you are able to cash it out, the other danger is that you actually pulled off this crap once and it\u2019s gonna tempt you to do it again.\u201d<\/p>\n In conclusion, he said that ultimately, \u201cYou do whatever you want to do but I am not a fan of ultra high-risk investments, and at a minimum that\u2019s what we would call bitcoin.\u201d<\/p>\n What do you think of Dave Ramsey\u2019s advice about bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n The post Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out \u2014 Advises BTC Investor to Sell Now<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nDave Ramsey Suspicious of Bitcoin<\/h2>\n
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