Itaú Unibanco, Brazil's largest private bank, is advising investors to allocate between 1% and 3% of their portfolios to Bitcoin. Renato Eid, who leads the bank's asset management strategies, frames this as a way to achieve diversification and protect against currency devaluation. He emphasizes that Bitcoin should not be the primary focus of an investment portfolio but rather a complementary asset. This recommendation comes in the context of Brazil's economic challenges, particularly the significant depreciation of the Brazilian real against the U.S. dollar, which has made holding globally priced assets more appealing. The bank's BITI11 fund, which provides Bitcoin exposure through an exchange-traded fund (ETF), is highlighted as a practical vehicle for investors. Launched in partnership with Galaxy Digital, the ETF has around $115.6 million in assets under management. Eid points to the dual benefits of international diversification and protection from currency fluctuations as key reasons for including BITI11 in investment strategies. This approach aligns with a broader trend in traditional finance, as seen in Bank of America's recent similar recommendation for a 1% to 4% crypto allocation for its wealth clients.