Itaú Unibanco Holding SA, the largest private bank in Latin America, advises its clients to allocate up to 3% of their portfolios to Bitcoin for the year 2026.
The bank views Bitcoin not as a speculative asset but as a hedge against the depreciation of the Brazilian real.
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Analysts at the Sao Paulo-based bank highlight in a strategy note that investors face two major obstacles: global price uncertainty and domestic currency fluctuations. According to analysts, these conditions necessitate a new approach when building portfolios.
The bank recommends that Bitcoin should account for 1% to 3% of the portfolio. Thus, it highlights that it is possible to obtain returns independent of local cycles.
In its report, the bank used the following statement: 'Bitcoin, a global and decentralized asset that can serve as a currency hedge due to its own dynamics and return potential; distinct from fixed income investments, traditional stocks, or local markets.'
Itaú particularly notes that Bitcoin should not be the core asset of the portfolio. Instead, it recommends positioning Bitcoin as a complementary asset suitable for the investor's risk profile.
The goal is to capture returns that are not tightly linked to local economic cycles and to provide partial protection against currency depreciation. Additionally, it aims to open positions for long-term value appreciation.
The bank emphasizes the relatively low correlation between Bitcoin and traditional asset classes. It states that a Bitcoin allocation of 1% to 3% would increase diversification without excessively risking the portfolio.
The note states that this approach should be applied with moderation, discipline, and long-term thinking, without overreacting to short-term price movements.
The bank warned: 'Trying to catch the 'right time' in assets like Bitcoin or in other international markets is risky and often backfires.'
Itaú's established ceiling rate of 3% brings it in line with visionary global guidance and helps close the gap with its American competitors.
Remarkably, large U.S. banks like Morgan Stanley and Bank of America also advise their clients to allocate up to 4% of their assets to the leading digital asset.
However, the situation is different for Brazilian investors.
Itaú argues that in a world where economic cycles have shortened and external shocks have increased, Bitcoin stands out from traditional assets with its 'hybrid character.'
The bank defines the leading cryptocurrency as both a high-risk asset and a global store of value. It notes that this combination offers a resilience that can no longer be provided by fixed-income products.
