The key points of their recommendation for their clients are:
* Allocation: They advise investors to allocate a modest amount, specifically 1% to 3% of their portfolio, to Bitcoin.
* Purpose: The bank views Bitcoin not just as a speculative asset, but as a complementary asset and a form of hedge for a diversified portfolio.
* Rationale: They specifically highlight its role in offering:
* Diversification: It has a low correlation with traditional assets like fixed income, traditional stocks, and domestic markets.
* Currency Hedging: Due to its global and decentralized nature, it can serve as a hedge against the depreciation of the Brazilian real (BRL).
* Long-Term Upside: It preserves exposure to potential long-term appreciation.
* Context: This recommendation is being made against a backdrop of global geopolitical tension, shifting monetary policy, and persistent currency risks, which, in Itaú's view, strengthen the case for a Bitcoin allocation.
This move is notable as it shows a major, regulated financial institution in Latin America embracing digital assets as a legitimate part of a balanced investment strategy.
