A day after Bank of Canada governor Stephen Poloz equated bitcoin investing to gambling, one portfolio manager took the analogy even further.

National Bank portfolio manager Rob Tétrault told BNN on Friday that investing in bitcoin should only be done with “money you know you can lose.”

When asked what his advice would be to clients that insist on having a position in bitcoin, Tétrault said “I would go on record saying that ‘I am not going to advise you to do that.’”

“If they’re going to do it elsewhere, or on their own or whatever, I would strongly advise them that it’s got to be speculative,” he continued. “It’s got to be less than five per cent of your portfolio at the absolute most and it’s got to be money you know you could lose, because this is like going to the roulette table and there’s no number that wins.”

“You’re taking your $15,000 or $17,000 and putting it on a number that isn’t on the wheel, in my view."

Bitcoin touched another all-time high of US$17,866 on Friday, marking a gain of more than 80 per cent in December.

Poloz outlined his stance on bitcoin in a Thursday speech titled ‘Three Things Keeping Me Awake at Night.’ He told a Toronto audience that “perhaps the most one can say is that buying these things means buying risk, which makes it closer to gambling than investing.”