Intesa Sanpaolo Buys 11 BTC for €1 Million, First Major Italian Bank to Invest in Cryptocurrency

Jan 13, 2025, 08:33 PM

Intesa Sanpaolo, Italy's largest bank by total assets, has made its first investment in Bitcoin, purchasing 11 BTC for a total of €1 million. This transaction marks the first case in Italy of a major financial institution directly investing in cryptocurrency. The purchase was confirmed by internal emails leaked and verified by Wired Italia, indicating that the transaction took place on January 13, 2025. This move is significant as it represents a departure from the cautious approach previously adopted by Italian banks towards cryptocurrencies, potentially signaling a shift in the financial sector's engagement with digital assets.