Dave Ramsey issues another harsh warning on crypto investing

Core Viewpoint - Personal finance expert Dave Ramsey criticizes cryptocurrency as a speculative fad, likening it to past investment trends like Beanie Babies and emus, and advises against including it in wealth-building strategies [1][4][5]. Group 1: Investment Philosophy - Ramsey emphasizes that any non-retirement investments should be liquidated to pay off debt, stating that this approach brings more joy when it involves "stupid" investments like crypto [2]. - He argues that clearing debt allows individuals to regain control over their most powerful wealth-building tool, which is their income, rather than relying on investments [3]. Group 2: Critique of Cryptocurrency - Ramsey has consistently dismissed cryptocurrency as a speculative gamble, asserting that it is currently a trend driven by social influence rather than sound financial principles [4][5]. - He compares the current crypto craze to past failed investment fads, suggesting that people are wasting their wealth-building potential by chasing after it [4][5]. Group 3: Investment Strategy - When asked if there is any scenario in which he would invest in cryptocurrency, Ramsey stated he does not gamble and only considers proven investments, which he believes crypto is not [6]. - He categorizes crypto as a commodity, similar to gold and oil, which he also does not invest in, reinforcing his stance against investing in currencies [6][7].