The American broadcaster is arguably one of Bitcoin’s biggest advocates and has been bullish on his stance and predictions for the cryptocurrency’s future.
Ned Naylor-Leyland, head of Old Mutual’s Gold & Silver fund, has been slow on the uptake of Bitcoin. With most of their investments in precious metals, the fund has decided to invest five percent of its portfolio in Bitcoin and will reinvest the profits back into the gold and silver markets.
Speaking in the latest episode of The Keiser Report, the host made a jibe about Naylor-Leyland’s about-turn in sentiment on Bitcoin:
“Ned is talking about Bitcoin effectively being gold, that it was designed to be gold. Now he’s invested in it, putting money to work in it.”
Keiser said the fund manager should have taken his advice years ago when the price was a fraction of what it is today:
“We’ve spoken to him many times about Bitcoin, he’s been reluctant and hesitant, resisted the idea that it’s gold 2.0. Now he’s been sucked up into the vortex, into that black hole that is Bitcoin.”
Keiser believes that more mainstream, institutional investors will be changing their tune on cryptocurrencies sooner rather than later…
Read Full: Keiser – Bitcoin like ‘Moses’ for Gold