– Itaú Advises 1%–3% Bitcoin Allocation for Diversified Portfolios – Bitcoin Trading at $90,329 Amid Institutional Interest in Brazil – Brazilian Investors Advised to Hedge with Bitcoin Against Devaluation

Itaú Asset Management, Brazil's largest private asset manager, is advising clients to allocate 1% to 3% of their portfolios to Bitcoin. This recommendation highlights Bitcoin's low correlation with traditional assets and its potential as a hedge against currency depreciation and global instability.

Renato Eid, head of beta strategies, emphasizes a long-term approach and advises against reacting to short-term volatility.
Similar recommendations have been made by other institutions like Bank of America and BlackRock.
At the time, Bitcoin was trading around $90,329, down 2.34% in 24 hours.

Institutional Implications

Itaú's advice aims to institutionalize crypto amid local economic challenges like currency devaluation.
This move could encourage high-net-worth individuals and family offices in Brazil to enter the crypto market.
The endorsement also supports Itaú's crypto products, such as its BITI11 spot Bitcoin ETF.