Brazil’s largest private bank recommends up to 3% investment in Bitcoin

Itaú Unibanco, Brazil's largest private bank, has advised its investors to allocate between 1% and 3% of their investment portfolios to Bitcoin. This recommendation is aimed at enhancing portfolio diversification, protecting against the devaluation of the Brazilian real, and capturing returns uncorrelated with domestic economic cycles. Renato Eid, head of beta strategies and ESG Integration at Itaú Asset Management, clarified that the goal is not to make crypto assets the core of a portfolio but to integrate them as a complementary component with long-term appreciation potential. This move follows a trend among major financial institutions, such as Morgan Stanley and Bank of America, which have also suggested allocations to digital assets for their wealth management clients.

(Source：Crypto Briefing)