Anand Sinha
2 min read
The Ramsey Show, earlier known as The Dave Ramsey Show, has accepted Bitcoin as a viable investment option after years of rejecting the cryptocurrency.
"I would say Bitcoin is here," Ken Coleman, one of the show's regular hosts, proclaimed in a February episode. He said that though he can't claim that Bitcoin won't fall, he would advise a prospective investor to learn about the buying strategies regarding the asset.
Coleman, however, underlined that Bitcoin should be a part of an investor's diversified portfolio — "not all eggs in that basket."
Crypto is going to get regulated like banking and stocks, and once it is regulated, it will become far more regulated, Coleman predicted. Otherwise, it's a "Wild, Wild West" right now and should be treated as a risky asset, he added.
This stance is a turnaround from the earlier positions taken by the Ramsey Show.
On Feb. 26, 2014, financial guru Dave Ramsey referred to Bitcoin as “wacko” and compared it to the Iraqi dinar. “It’s a really good way to turn a million dollars into nothing.”
Known for his rather conservative approach to personal finance, the radio personality also lambasted crypto investors, “All of a sudden, one of these computer nerds just flips the switch, the whole freaking thing’s gone.” Bitcoin was trading at approximately $567 on the day.
Dave Ramsey is a personal finance expert, radio host, and author known for his conservative approach to money management. His nationally syndicated show, The Ramsey Show (formerly The Dave Ramsey Show), offers advice on budgeting, debt elimination, and investing. The program reaches millions of listeners and emphasizes financial discipline and long-term wealth building.
On Sep. 4, 2024, Ramsey compared crypto investing to gambling in a blog post. Bitcoin was trading at approximately $56,500 on the day, having soared 100 times since February 2014.
At press time, Bitcoin was exchanging hands at $103,672, as per Kraken's price feed. The cryptocurrency has risen more than 180 times since Ramsey's viral 2014 takedown of the asset.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
