On February 26, 2014, financial advisor and radio personality Dave Ramsey issued a now-worthy statement about Bitcoin. Call it “wacco” and rivals gravel or Iraqi dinaar.
In a segment of his show, Ramsey rejected the possibility of the world’s biggest cryptocurrency, saying, “What is Bitcoin? Bitcoin is a currency on the internet. It has no value except for the extent to which someone else takes it as value from you.
Ramsey doubled in harsh words. “It’s a really good way to make sure you don’t have a million dollars nothing,” he said, “It’s not that, so it’s not real money… it’s a stable currency that has all sorts of systems that back it up.”
He laughed at Crypto Investors and said, “All of a sudden, one of these computer nerds flipped the switch and the whole thing was gone.”
“So, the little hipster, the technician sat in front of the building, ‘Where is my money?’ Well, honey, you had nothing. ”
“As long as you can escape it, you can exchange gravel from your driveway… that doesn’t mean that it’s a bright idea.”
“Go ahead and add the bitcoin people to the mix. You’re stupid. You’re going to lose your money.”
Bitcoin was trading for around $567 that day. If someone had only invested $1,000 in BTC at the time, they would have received about 1.763 BTC.
As of March 29, 2025, the same $1,000 investment is worth more than $148,500, with a return of nearly 14,750%.
Ramsey has since softened his stance slightly, calling Bitcoin a “speculative investment” in recent years, but this 2014 clip is one of the most iconic examples of legacy finance that dismisses crypto in the early days.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are extremely unstable and dangerous. Always conduct your own research before making an investment decision.