When Bitcoin (BTC) hit the all-time high (ATH) of $126,080 on Oct. 6, 2025, the crypto community was over the moon and expected the leading cryptocurrency to keep surging even more. But the c
When Bitcoin (BTC) hit the all-time high (ATH) of $126,080 on Oct. 6, 2025, the crypto community was over the moon and expected the leading cryptocurrency to keep surging even more.
But the crypto flash crash a few days later on Oct. 10 changed everything, and Bitcoin has failed to reach previous highs. The cryptocurrency is currently trading around 50% lower than the ATH.
As Bitcoin is yet to recover from the Oct. 10 shock, personal finance guru and radio host Dave Ramsey's views on the cryptocurrency are doing the rounds on the internet.
Ramsey is best known for his conservative investment philosophy and has frequently criticized Bitcoin. He has called it a "fad," which all the "cool kids" keep talking about.
According to him, Bitcoin is "dumber than crap" which has no place in a wealth plan.
Related: Michael Saylor warns Bitcoin's biggest threat is here
TheStreet Roundtable asked Adam McCarthy what he thinks of Ramsey's assessment of Bitcoin as a "fad" which is "dumper than crap" as the cryptocurrency fails to recover.
McCarthy is the head of research at LO:TECH, a trading and capital markets firm in London. He said that Bitcoin has often traded below its ATHs in previous cycles since its inception over 16 years ago.
That sort of volume can't be disregarded so cheaply and its history over those cycles matters, he said. In fact, the largest firms in the world, such as BlackRock, Morgan Stanley, and Fidelity, have issued Bitcoin exchange-traded funds (ETFs), he added.
"So, straight off the bat, I would discount anyone that calls it a 'fad'," McCarthy remarked.
Traders aren't getting involved with Bitcoin for a "short sugar rush," they see a long-term value and are in the market for that reason, the LO:TECH researcher underlined.
McCarthy admitted he isn't a cryptographer but said calling Bitcoin "dumber than crap" is "another lazy review."
The fact that Bitcoin's immutability has stood up over the past few years and the risk departments and some of the world's largest financial institutions are happy to accept it likely negates Ramsay's "flippant point," McCarthy concluded.
Leo Fan is the founder and CEO of Cysic, a decentralized network focused on zero-knowledge proof generation. He is also an early Bitcoin investor and miner who holds a PhD in cryptography from Cornell University.
Fan told TheStreet Roundtable that Bitcoin’s drawdown proves its volatility instead of it being a fad.
While Ramsey’s warning is fair for anyone treating Bitcoin as safe savings or a guaranteed path to wealth, but dismissing an asset with a 17-year track record, global liquidity and growing institutional adoption as “dumber than crap” is "overly simplistic," he argued.
Though Bitcoin remains highly speculative, its scarcity, decentralization, and resistance to censorship give it a durable value proposition that should be judged over market cycles, not by one price decline, Fan concluded.
BTC/USD, Source: DecibelBitcoin was trading at $63,863 at the time of writing, as per Decibel.
Related: Bitcoin's biggest driver isn't what you think, says veteran investor
