Brazil’s Largest Bank Updates Bitcoin Portfolio Recommendations

Itau Unibanco, the largest bank in Brazil, with nearly 100 million customers, has updated its recommendations regarding bitcoin holdings.

In a recent report, Itau assesses bitcoin as a diversification tool and a hedge against currency devaluation. The document highlights that bitcoin has evolved and can function as a relevant element in portfolios that suffer from changes derived from today’s economic uncertainties and geopolitical tensions.

For Itau’s analysts, bitcoin has detached from other assets and, due to its decentralized structure, offers different investment opportunities than these. In this sense, they state that an allocation of up to 3% might help investors benefit from the upside that bitcoin might still enjoy and its properties as a Brazilian currency hedge.

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TRM Labs, a global blockchain forensics and analytics firm, has discussed the current state of the cryptocurrency ecosystem in Venezuela against a backdrop of increased sanctions.

In a recent article, the firm acknowledged that, even with renewed global compliance concerns, the usage of stablecoins remains primarily driven by “necessity rather than speculation or criminal intent.”

TRM Labs found that stablecoin adoption in Venezuela follows a similar pattern observed in countries like Argentina, becoming key actors in both household and commercial transactions as dollar proxies.

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El Salvador is prepared to introduce an artificial intelligence (AI) led educational experience into their classrooms.

The country has announced a collaboration with xAI, Elon Musk’s AI startup, to implement a nationwide rollout of Grok, the LLM model, during the next 2 years, to aid Salvadoran students in their educational journey.

According to a press release, the model will be implemented across 5,000 schools in El Salvador, going from cities to more rural environments.

The experience seeks to provide a personalized learning experience for each student, with Grok adapting to the particularities, language, learning pace, and interests of every student.

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• What is Itau Unibanco’s new recommendation regarding bitcoin?
  Itau recommends investors hold up to 3% of their portfolios in bitcoin as a hedge against currency devaluation.
• How is crypto adoption perceived in Venezuela according to TRM Labs?
  TRM Labs highlights that stablecoin adoption in Venezuela is driven by necessity, functioning as dollar proxies in transactions.
• What educational initiative is El Salvador planning with xAI?
  El Salvador plans to implement an AI-based educational program in 5,000 schools, featuring personalized learning through the Grok model.