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Personal finance expert Dave Ramsey recently shared an intriguing story about a friend who bought thousands worth of cryptocurrency solely to irritate him.
On a July 29 episode of “The Ramsey Show,” the popular radio personality revealed he had a friend who invested $10,000 in cryptocurrency to “get a rise out of him.
“And I’m like, you’re an idiot,” Ramsey said with a poker face. “He wanted me to call him an idiot and I did.”
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As amusing as that sounds, Ramsey said he would have called his friend an idiot for simply talking about cryptocurrency investments and that he didn’t have to “waste” $10,000.
The anecdote came in response to a caller’s question on whether Ramsey had softened his stance on cryptocurrency.
“I haven’t softened on that at all,” he said emphatically. “You’re speculating, you’re gambling, then that’s up to you. But don’t call it an investment.”
He previously said that assets like Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) are not investment strategies but rather “things that you can jump into or jump out of.”
Ramsey added that for Bitcoin to become a “legitimate” currency in his books, it’d require a “longer track record that is stable.”
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Bitcoin has skyrocketed a whopping 910% in the last five years, and 46,421% in the last ten years, far exceeding the returns of S&P 500 and gold.
Moreover, traditional investors now have exposure to the asset through spot exchange-traded funds and companies such as Strategy Inc. (NASDAQ:MSTR), underlining its growing institutional interest.
Earlier this year, President Donald Trump famously said that BTC is helping relieve pressure on the U.S. dollar and that it’s “great” for the country.
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This article Dave Ramsey Says Friend Invested $10,000 In Crypto To ‘Get A Rise’ Out Of Him: ‘He Wanted Me To Call Him An Idiot And I Did’ originally appeared on Benzinga.com
