Brazil’s Largest Asset Manager Recommends Investors Put Up to 3% of their Money in Bitcoin to Hedge Against FX, Market Shocks

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TL;DR

Brazil's largest asset manager, Itaú Asset Management, recommends investors allocate 1-3% of portfolios to bitcoin for diversification and as a hedge against currency and market volatility, emphasizing a disciplined, long-term approach.

Key Takeaways

•Itaú Asset Management suggests Brazilian investors allocate 1-3% of portfolios to bitcoin for diversification due to its low correlation with traditional assets.
•The recommendation emphasizes a measured, long-term approach, warning against market timing and treating bitcoin as a complementary asset rather than portfolio core.
•Bitcoin can act as a partial hedge against currency depreciation and global volatility while providing access to global returns.
•Other major asset managers like Bank of America and BlackRock have made similar bitcoin allocation recommendations (up to 4% and 2% respectively).
•The firm advises setting a strategic allocation, maintaining a long-term horizon, and avoiding reactions to short-term market noise.

What to know:

Itaú Asset Management recommends Brazilian investors allocate 1-3% of portfolios to bitcoin for diversification, citing its low correlation with traditional assets.
The recommendation is a measured approach, suggesting a small, steady exposure to bitcoin as a complementary asset.
In a year-end analyst’s note, the firm called for a disciplined, long-term mindset, warning against market timing and suggesting that a small allocation can act as a partial hedge and offer access to global returns.

Itaú Asset Management recommends Brazilian investors allocate 1-3% of portfolios to bitcoin for diversification, citing its low correlation with traditional assets.
The recommendation is a measured approach, suggesting a small, steady exposure to bitcoin as a complementary asset.
In a year-end analyst’s note, the firm called for a disciplined, long-term mindset, warning against market timing and suggesting that a small allocation can act as a partial hedge and offer access to global returns.

Brazil’s largest privately-owned asset manager, Itáu Asset Management, has recommended investors allocate 1% to 3% of their portfolios to bitcoin BTC$89,347.94.

In a year-end note, Renato Eid, head of beta strategies and responsible investment for Itaú Asset Management, argued that bitcoin’s lack of correlation with traditional local assets makes it a useful diversification tool.

The note echoes the bitcoin allocations recommended by other major asset managers. Earlier this month, Bank of America greenlit wealth advisors to recommend a BTC allocation of up to 4%, while BlackRock has pointed to 2%.

Eid emphasized a measured approach, not turning crypto into the centerpiece of a portfolio but using it as a complementary asset that can help absorb shocks from currency depreciation and global volatility.

“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 wrote.

This year, bitcoin surged to a record near $125,000 before falling back to around $90,000. For local investors, the ride was even bumpier due to currency fluctuations.

Products like BITI11, a bitcoin ETF traded in Brazil, saw their performance in reais affected by the weakening fiat currency. But in periods of stress, such as late 2024, the global nature of BTC provided some insulation.

Eid warned against trying to time the market and suggested a disciplined, long-term mindset. A small, steady exposure to bitcoin, he says, can act as a partial hedge and offer access to global returns, especially as traditional asset correlations become less reliable.

“It calls for moderation and discipline: set a strategic slice (for example, 1%–3% of the total portfolio), keep a long-term horizon and resist the temptation to react to short-term noise,” Eid wrote.

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