Itaú Unibanco Holding SA, the largest private bank in Latin America, has advised clients to allocate up to 3% of their portfolios to Bitcoin for 2026.
The bank presents cryptocurrency not as a speculative asset, but as a hedge against the erosion of the Brazilian real.
Why Itau wants clients' funds in Bitcoin
In a strategic note, analysts from the São Paulo banking group explained that investors face a double challenge due to uncertainty in global prices and internal currency fluctuations. They argued that these conditions may require a new approach to portfolio construction.
The bank recommends an exposure to Bitcoin between 1% and 3%, thus obtaining returns uncorrelated with internal economic cycles.
"Bitcoin [is] an asset distinct from bonds, traditional stocks, or domestic markets, with its own dynamics, its own potential for return, and – thanks to its global and decentralized nature – also a currency hedge function,” the bank wrote.
Itaú emphasized that Bitcoin should not become a central position in the portfolio. Rather, the bank presents the asset as a complementary allocation designed based on the investor's risk profile.
The goal is to achieve returns not strongly linked to local economic cycles and provide partial protection against currency devaluation, while maintaining exposure to potential long-term appreciation.
The bank has highlighted the relatively low correlation between Bitcoin and traditional asset classes. According to the bank, an allocation between 1% and 3% can improve diversification without excessively burdening the overall portfolio risk.
According to the note, this approach requires moderation, discipline, and a long-term vision, instead of reactions to short-term price movements.
"Attempting the 'perfect market timing' on assets like Bitcoin or other international markets is risky – and often counterproductive,” warns the bank.
The maximum cap of 3% set by Itaú aligns it with the most advanced guidelines globally, reducing the gap with US banks.
In particular, some large US banks like Morgan Stanley and Bank of America have suggested to their clients to allocate up to 4% of their assets to the main digital asset.
For Brazilian investors, however, the stakes are different.
Itaú explained that in a context of increasingly shorter economic cycles and more frequent external shocks, the "hybrid nature" of Bitcoin distinguishes it from traditional assets.
The bank describes the main cryptocurrency as an asset that is partly high-risk and partly a global store of value. According to Itaú, this combination ensures a resilience that bonds can no longer offer.
