Recently, on his podcast, personal finance expert Dave Ramsey discussed Bitcoin and gold, making sure listeners did not think it is best to consider either as a long-term investment.

On the historic role of gold, Ramsey was critical of gold's long-term track record as an investment but not too accepting of Bitcoin, which is often considered a hedge against inflation or 'digital gold'.

Ramsey is a popular author , radio host, and one of America's most prominent personal finance experts. He has developed a devoted following because of his practical, hard-nosed financial advice.

He says, "The track record on Bitcoin is non-existent because there's only just a few years it’s been in existence," Ramsey said. "And when you chart its volatility during that time, it’s cray cray. It’s just nuts.”

"Gold is not a good long-term investment — the track record sucks," Ramsey said flatly. He acknowledged that Bitcoin is primarily here to stay, but has no historical basis for being considered an actual investment. He also added that he is not too bothered about its volatility. "It's going to become more and more legitimate, less and less volatile."

Ramsey didn't oppose Bitcoin entirely but believes investors should treat it like a high-risk gamble. "When you say investment, if you say I want to speculate in it, I want to put some money in the middle of the table that I would play on the Roulette Wheel. Yeah, that's fine.”

He further believes that Bitcoin is not a good investment in a 401(k). "If you want to speculate with some of your money and you like Bitcoin, fine… but don't put your freaking 401(k) in it or think, 'I'm going to retire and not eat dog food if I put all my money in Bitcoin.'