Brazilian bank Itaú Unibanco, the country’s largest private lender, has sent a clear message to investors: Bitcoin has a place in long-term investment portfolios. Its investment arm, Itaú Asset Management, recommends allocating roughly 1 to 3% of a portfolio to Bitcoin in 2026.

The recommendation appears in a new analytical report authored by Itaú Asset investment strategist Renato Eid. According to Eid, the current global environment supports including Bitcoin as a complementary asset, particularly amid geopolitical tensions, shifts in monetary policy, and persistent currency risks.

Bitcoin as a distinct asset class

In the analysis, Eid emphasizes that Bitcoin should not be assessed through the same lens as traditional investments. “Bitcoin is an asset distinct from bonds, equities, or domestic markets. It has its own dynamics, its own return potential, and due to its global and decentralized nature, it also serves as a form of currency hedge,” he notes.

This distinct behavior is key, according to Itaú. Bitcoin behaves differently from traditional assets and can therefore help reduce overall portfolio risk, even though it remains highly volatile on its own.

A volatile 2025 did not hurt Bitcoin

The bank’s recommendation comes despite an exceptionally turbulent year for Bitcoin. At the start of 2025, it traded around $95,000, fell to roughly $80,000 during the tariff crisis, then surged to a new all-time high of $125,000. It is currently trading again near the $95,000 level.

According to Itaú Asset, this volatility is not a reason to ignore Bitcoin. On the contrary, with a small and stable allocation, it can act as a balancing element within a portfolio, particularly during periods of currency fluctuations.

Brazilian investors face stronger swings

Bitcoin plays a specific role in Brazil. The Brazilian real has strengthened by approximately 15% this year, meaning local investors have experienced Bitcoin’s price swings more intensely than the global market. A stronger domestic currency amplifies local losses on dollar-denominated assets.

Even so, Eid argues that long-term, limited exposure to Bitcoin can help smooth risks that traditional assets fail to cover. Itaú points to its own data showing low correlation between BITI11 — the bank’s locally traded bitcoin ETF — and other major asset classes. This supports the view that Bitcoin can improve overall portfolio balance.

“By allocating roughly 1 to 3% of an investment portfolio, investors are effectively gaining exposure to an asset that delivers diversification,” the bank states in its report.

Itaú expands its crypto activities

The recommendation aligns with Itaú Asset Management’s broader strategy. Earlier this September, the bank established a dedicated crypto division and appointed João Marco Braga da Cunha, a former Hashdex executive, as its head.

The new unit builds on Itaú’s existing digital asset offerings, which include bitcoin ETFs and a pension fund with exposure to cryptocurrencies. Looking ahead, the bank plans to expand its product range — from more conservative, bond-like instruments to higher-risk strategies such as derivatives or staking.

Key takeaway

The stance of Brazil’s largest private bank shows that Bitcoin is gradually moving closer to the financial mainstream. Not as a replacement for traditional investments, but as a complement to them. For everyday investors, the message is straightforward: even a small allocation to Bitcoin can make sense when it is part of a long-term, well-considered strategy.

Sources:

https://www.ion.itau/news/o-bitcoin-em-2026-entre-previsoes-e-realidade/

https://cointelegraph.com/news/itau-asset-recommends-3-percent-bitcoin-allocation-2026