Italy’s Largest Bank Makes Its 1st Big Move into Bitcoin with a $1M Purchase

Tags: italy

1. A Big First for Italy: Intesa Sanpaolo is now the first Italian bank to invest in Bitcoin, buying 11 BTC worth $1 million.
2. Crypto’s Popularity Is Growing: More big companies and banks are starting to invest in digital currencies.
3. Future-Focused Thinking: The bank is getting ready to handle crypto if its wealthy clients ask for it.

Italy’s Biggest Bank Enters the Bitcoin World

Intesa Sanpaolo, Italy’s largest bank, has just made its first move into cryptocurrency by purchasing 11 Bitcoins for around $1 million. This is the first time a bank in Italy has directly invested in Bitcoin, making it a significant step not only for the bank but for the country’s financial sector.

The news came from an internal email shared by Niccolò Bardoscia, who heads the bank’s digital asset trading team. In his message to the team, he wrote, “As of January 13, 2025, Intesa Sanpaolo owns 11 Bitcoins. A big thank you to everyone for making this happen—it couldn’t have been done without all of you!”

Why Is This Important?

Bitcoin is becoming more and more important in global finance. Institutions around the world are starting to see its potential, and Intesa Sanpaolo’s investment is a clear sign of that. It’s interesting to see that the purchase occurred on the same date when Bitcoin Reserve was at the lowest point in 7 years. This means fewer Bitcoin sellers and more buyers.

So prices will increase. By joining at this time, Intesa would like to benefit from the continual rise of Bitcoin.

A Careful Step into the Future

Carlo Messina, the bank’s CEO, called the purchase an experiment and said it’s a tiny part of the bank’s huge €100 billion securities portfolio.

Messina explained, “We won’t become a Bitcoin provider, but we need to know how to do so if our bigger clients ask us to. If our bigger clients come to us asking about it, we should be ready.” This shows that while the bank is cautious, it’s also preparing for what’s to come.

Analysts have said that changes in interest rates, especially in the U.S., can have a big impact on cryptocurrency prices.

Many experts are still optimistic about Bitcoin’s future. Some people think that it could reach $150,000 at the end of 2025, due to higher circulating money and attention from institutions.

Vietnam Pham

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