Brazil's largest asset management company recommends that investors allocate 3% of their funds to Bitcoin.

According to Mars Finance, on December 14th, Itaú Asset Management, Brazil's largest asset management company, recommended that investors allocate 3% of their funds to Bitcoin to hedge against foreign exchange and market shock risks. The company cites Bitcoin's low correlation with traditional local assets as a useful diversification tool. Itaú stated that market timing is unnecessary and recommended a disciplined, long-term investment strategy. Itaú Asset Management's recommendation echoes the Bitcoin allocation recommendations of other major asset management companies. Earlier this month, Bank of America approved a maximum 4% Bitcoin allocation recommended by wealth advisors, while BlackRock recommended a 2% allocation.