Brazil’s Largest Asset Manager Recommends Investors Put Up to 3% of their Money in Bitcoin to Hedge Against FX, Market Shocks
Brazil’s largest privately-owned asset manager, Itáu Asset Management, has recommended investors allocate 1% to 3% of their portfolios to bitcoin BTC$90,143.11. In a year-end note, Renato Eid, head of beta strategies and responsible investment for Itaú Asset Management, argued that bitcoin’s lack of correlation with traditional local assets makes it a useful diversification tool. The...
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