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What will be the performance of Intesa Sanpaolo's Bitcoin investment by end of 2025?
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Financial performance reports from Intesa Sanpaolo or major financial news outlets
Story
Intesa Sanpaolo Becomes First Italian Bank to Buy Bitcoin, Acquires 11 BTC for €1M
Jan 14, 2025, 02:18 AM
Intesa Sanpaolo, Italy's largest bank by total assets, has made its first direct investment in Bitcoin, purchasing 11 BTC for approximately €1 million ($1 million). This transaction marks the first time an Italian bank has invested directly in cryptocurrency. The purchase was confirmed by the bank's press office following a leak of an internal email on the online forum 4chan. The email, reportedly from Niccolò Bardoscia, head of the bank’s Trading and Investment division for Digital Assets, celebrated the successful completion of the bank's first Bitcoin trade. Despite the confirmation, Intesa Sanpaolo has not disclosed its motivations or future plans regarding Bitcoin investments.
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