Itaú Asset Management, the investment arm of Brazil's largest private bank, Itaú Unibanco, has recommended that investors hold 1% to 3% of their portfolios in Bitcoin next year.
In a new research note, Itaú Asset’s Renato Eid said that the global backdrop of geopolitical tension, shifting monetary policy and persistent currency risks strengthens the case for adding Bitcoin (BTC) as a complementary asset.
He called Bitcoin “an asset distinct from fixed income, traditional stocks, or domestic markets, with its own dynamics, return potential, and — due to its global and decentralized nature — a currency hedging function.”
The suggestion comes despite a turbulent year for Bitcoin. The asset began 2025 near $95,000, slid toward $80,000 during the tariff crisis, then surged to an all-time high of $125,000 before settling back around $95,000.
Related: Brazil’s crypto tax grab signals the end of an era
Bitcoin can steady portfolios amid currency swings
Brazilian investors have felt Bitcoin’s volatility more intensely than global traders. The Brazilian real strengthened by about 15% this year, amplifying local 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, its locally listed Bitcoin ETF, 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.
Related: Why Brazil is using Bitcoin as a treasury asset and what other nations can learn
Itaú Asset Launches Dedicated Crypto Unit
In September, Itaú Asset created a standalone crypto division and appointed former Hashdex executive João Marco Braga da Cunha to lead it. The unit expanded on Itaú’s existing digital-asset offerings, including its Bitcoin ETF and a retirement fund with crypto exposure.
Itaú also plans to develop a broader suite of products, ranging from fixed-income-style instruments to higher-volatility strategies like derivatives and staking.
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