Financial commentator Dave Ramsey recently harshly criticized cryptocurrency, labeling it as merely gambling.
Cryptocurrency Compared to Gambling
Dave Ramsey described cryptocurrency as 'dumber than crap' and stated that it is not a proven investment. He emphasized that crypto assets act like commodities but fail to provide stable returns.
Comparison to Useful and Useless Assets
Ramsey drew an analogy, likening investments in cryptocurrency to buying emus instead of cattle. He noted that cattle are traditionally viewed as valuable assets, whereas emus lack practical value. Thus, in Ramsey's view, digital currencies fall into the same category of useless investments.
The Future of Cryptocurrency in Investments
Ramsey suggests that cryptocurrency could take a legitimate place in the future if its long-term performance improves. However, at present, he believes that investing in cryptocurrency is an ill-advised move for serious investors, highlighting the peculiarities of such investments.
Ramsey's sharp statements underline his skepticism towards cryptocurrency, despite acknowledging its role as currency. He insists that investing in cryptocurrencies can lead to financial mistakes.
