As reported by Coindesk, Brazil’s largest privately-owned asset manager, Itáu Asset Management, has recommended investors allocate 1% to 3% of their portfolios to bitcoin (BTC) as a diversification tool. The suggestion, made in a year-end note by Renato Eid, head of beta strategies and responsible investment, highlights bitcoin’s low correlation with traditional local assets and its potential to hedge against currency depreciation and global volatility. Eid emphasized a measured approach, using crypto as a complementary asset rather than a core investment. This aligns with recommendations from other major asset managers like Bank of America and BlackRock, which have suggested allocations of up to 4% and 2%, respectively.
Brazil's Largest Asset Manager Suggests 1%-3% Bitcoin Allocation for Portfolio Diversification
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Summary
Itáu Asset Management, Brazil’s largest private asset manager, has suggested a 1% to 3% **asset allocation** to bitcoin for **portfolio diversification**. In a year-end note, Renato Eid cited BTC’s low correlation with local assets and its potential to hedge against currency depreciation and global volatility. He stressed a measured approach, positioning crypto as a complementary, not core, investment. The recommendation mirrors views from Bank of America and BlackRock, which suggest allocations of up to 4% and 2%, respectively.
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