- Italy’s largest bank, Intesa Sanpaolo, has bought Bitcoin for the first time.
- The bank now holds 11 Bitcoins, valued at roughly USD $1 million.
- This investment follows the establishment of a cryptocurrency trading desk in 2023.
Intesa Sanpaolo’s Bitcoin Investment: A Groundbreaking Move
Intesa Sanpaolo, known for its extensive history dating back over 440 years, has made headlines by entering the cryptocurrency market with its first Bitcoin purchase.
The Acquisition Details
On January 14, 2025, reports emerged that Intesa Sanpaolo had invested approximately USD $1 million in Bitcoin, acquiring 11 of the digital assets. This step was not taken lightly; the bank has been preparing for this venture since 2023 when it set up a dedicated cryptocurrency trading desk.
Intesa Sanpaolo’s investment signals a broader acceptance of cryptocurrencies within the financial sector, particularly among institutions with long histories and conservative investment profiles. As one of Italy’s leading banks, this move could influence other financial entities to consider digital assets as part of their investment portfolios or services.
This purchase comes at a time when Bitcoin is increasingly viewed not just as a speculative asset but as a legitimate component of a diversified investment strategy. As per recent data from CoinDesk , Bitcoin’s market cap has seen a significant increase, with more traditional finance players entering the space.
This trend is supported by a 20% rise in institutional investment in cryptocurrencies over the last year, according to Bloomberg .
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