Dave Ramsey calls crypto investors ‘dumb’ in rare outburst
Dave Ramsey, the bestselling personal finance author and the host of the popular “The Ramsey Show,” is not a fan of crypto.
From comparing Bitcoin to “toilet paper” or “wacko,” he has never shied away from sharing his blunt opinion on digital assets.
In April, he appeared on the popular podcast Shawn Ryan Show where he explained in detail about why he holds such a strong anti-crypto stance and didn’t hold back when it came to talking about crypto traders.
Crypto is going to get bigger, better, safer, sophisticated, and stable, he admitted. It was a “Wild, Wild West” and a “cr*p show” for a long time — which he said it still is — but it isn’t as bad as it was earlier, he said. Nonetheless, it’s very risky, he added.
The personal finance expert went on to say that one can’t invest in crypto, only speculate. Those investing in crypto confuse speculating with investing, he warned because speculating is short-term but investing is long-term.
Ramsey has a rather simple way of looking at the performance of assets: price charts.
“If you chart Bitcoin and you don’t see risk, you’re dumb.”
Related: What is Crypto? Cryptocurrency explained
Ramsey said his friends, who are worth more than $100 million, can afford to invest even $1 million in crypto because they won’t miss it even if this money gets burnt.
The reason he had to come so hard on crypto investors is that they aren’t putting their money in 401(k) retirement accounts, mutual funds, or a house but 100% of their funds in a “roulette wheel.”
“And that’s stupid.”
To 26-year-olds who have invested everything they have in Bitcoin, he said they could very well go to Las Vegas for gambling.
During the podcast, Ramsey also talked about receiving hate for not cheering for crypto. Crypto is like a “cult” because its believers think those not invested in it are going to hell, he joked. He recalled his co-host George Kamel comparing crypto to a multi-level marketing scheme.
“It’s like Mary Kay for young men.”
Ramsey said he didn’t care about anyone investing in crypto but they should invest an amount that they wouldn’t miss even if it gets burnt in the middle of their kitchen tables.
This story was originally reported by TheStreet on Sep 27, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.