Caller Makes $30K From Crypto Investments, Seeks Dave Ramsey's Advice On Whether To Keep It Invested Or Sell It To Pay Off Debts

A caller named Arabella recently turned to personal finance expert Dave Ramsey with a question that's become more common in today's volatile financial atmosphere: Should she sell her crypto holdings to pay off debt — or wait for a possible bull run?

She and her husband have about $60,000 invested in cryptocurrency and are preparing to close on a new home. But they also owe $14,000 in student loans and $37,000 on a car loan. Arabella wondered, with the market expected to rise at the time of her call, if it made more sense to hold onto the crypto or cash out and pay down their debts.

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Ramsey Calls Crypto a "Roll of the Dice"

Ramsey didn't hesitate. "Cash it today and pay it off," he said firmly on "The Ramsey Show." He emphasized that cryptocurrency is not a stable or predictable investment. "It's not technically an investment — it's actually called speculation," he said, adding, "You're in Vegas and your car payment's on the line."

Arabella had mentioned that they were up $30,000 in crypto profits before the market dipped. Ramsey used that detail to illustrate his point. "So what happens when Trump burps again? You're screwed," he said, highlighting how sensitive crypto values can be to political or economic shifts.

Sunk Cost Thinking and a Different Perspective

To help the couple think through their decision, Ramsey proposed a mental exercise. He told her to pretend she doesn't have any debt and then ask herself, "Should I go borrow on my car and on a credit card to buy $60,000 worth of crypto?"

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Arabella responded, "Absolutely not."

"Well, it's the same thing," Ramsey replied. "If you don't sell it today, you borrowed it again tomorrow…Do you understand that?"

His logic is rooted in what economists call sunk cost analysis. Rather than focusing on what has already been gained or lost, the goal is to make the best decision based on current circumstances. In this case, holding crypto while in debt, he argued, is equivalent to having borrowed money to speculate in the market.

Faith, Finances, and Controversy

The conversation took an unexpected turn when Arabella explained that their investment decisions were faith-based. "We felt like God showed us these three specific coins that we're invested in," she said, noting that they've held them through multiple market cycles.

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Ramsey's co-host Jade Warshaw responded, "Ooh, like a crystal ball." Ramsey himself was more direct: "This is really, really bad theology, Arabella."

He clarified that while the Bible supports long-term investing, there's no scriptural basis for short-term speculation, especially with borrowed money. "Please don't blame that on the Holy Spirit," he said. "It might have been a spirit, but it wasn't the Holy one."

What Ramsey Wants People to Remember

For those wondering how to approach crypto or similar high-risk investments while carrying debt, Ramsey's advice remains consistent: eliminate debt first, then build wealth with steady, proven strategies. In his words: "If you wouldn't take out a loan to buy crypto today, then you shouldn't be holding onto it while you have debt."

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