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Itaú Asset Management Recommends Up To 3% Bitcoin Allocation
In a year-end research note, Renato Eid, head of beta strategies and responsible investment for Itaú Asset Management, pointed out that the global backdrop of geopolitical tension, shifting monetary policy, and persistent currency risks bolsters the case for adding Bitcoin to portfolios as a complementary asset.
“The idea is not to make cryptoassets the core of the portfolio but to include them as a complementary component — sized appropriately to the investor’s risk profile,” Eid said.
According to him, Bitcoin’s lack of correlation with traditional local assets due to its decentralized nature makes the alpha crypto a good hedge against currency depreciation and global volatility.
Brazilian investors have endured a rollercoaster ride this year than global traders due to currency fluctuations. The Brazilian reais grew by around 15% this year, intensifying losses for local investors.
 
However, Eid argued that a small, steady Bitcoin allocation can smooth risks that traditional assets fail to hedge. Citing the bank’s internal data, he said there is a low correlation between BITI11, a Bitcoin ETF traded in Brazil, and other major asset classes, which supports the case for adding a modest BTC position to improve portfolio balance.
“By allocating around 1% to 3% in their investment portfolio, investors will in fact be taking advantage of an asset that generates diversification,” the bank wrote.
The recommendation comes despite a rough year for Bitcoin. The world’s largest and oldest crypto kicked off 2025 near $95,000, slid toward $80,000 during the US.-China tariff war, then surged to an all-time high above $126,000 before settling around $88,979 as of publication time, per CoinGecko data.
Notably, Eid cautioned investors against trying to time the market and called for a disciplined, long-term perspective. “Resist the temptation to react to short-term noise,” he opined.