Brazil's Itaú Asset Management Advocates Bitcoin Investment for Risk Diversification

According to ChainCatcher, Brazil's largest asset management firm, Itaú Asset Management, has advised investors to allocate 3% of their funds into Bitcoin. This recommendation is aimed at hedging against foreign exchange and market shock risks, as Bitcoin's low correlation with traditional local assets makes it a valuable diversification tool. Itaú emphasizes that timing the market is unnecessary and advocates for a disciplined, long-term investment strategy. This suggestion aligns with the Bitcoin allocation percentages recommended by other major asset management companies. Earlier this month, Bank of America approved wealth advisors to recommend a maximum Bitcoin allocation of 4%, while BlackRock suggested a 2% allocation.