Italy's largest bank makes initial investment of 1 million euros to enter Bitcoin market
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Italy's largest bank makes initial investment of 1 million euros to enter Bitcoin market
Intesa's acquisition of digital assets is approximately equivalent to 11 BTC.
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Italy's largest bank, Intesa Sanpaolo, has reportedly entered the BTC market by acquiring 1 million euros worth of the leading digital asset.
According to an internal email allegedly signed by Niccolo Bardoscia, head of digital asset trading and investment at the bank, the acquired digital assets amount to approximately 11 BTC.
While Intesa has not yet officially confirmed the purchase, multiple credible media outlets—including Reuters—have reported on it.
Meanwhile, Intesa’s acquisition of BTC follows a series of strategic moves in the digital asset space.
Last year, the bank’s crypto asset division received approval to conduct spot crypto asset trading, complementing its existing offerings in crypto options, futures, and ETF products.
However, it remains unclear whether this BTC purchase signals a broader expansion into the digital asset ecosystem.
Nonetheless, Pierre Rochard, Vice President at BTC miner Riot Platforms, emphasized the significance of this shift, noting growing recognition among financial institutions of BTC’s potential.
Rochard stated: "All banks need to start accumulating BTC to rebalance their balance sheets."
Within Italy’s traditional financial sector, Intesa is widely recognized as a leader in digital asset adoption.
In terms of market capitalization, Intesa also ranks among the top banks in the eurozone, with a market cap of 69 billion euros—surpassing competitors such as Santander (67 billion euros) and BNP Paribas (66 billion euros).
Market observers note that Intesa’s purchase reflects a broader trend of increasing BTC adoption among financial institutions.
Data from Bitwise shows that corporate demand for BTC in 2025 has already exceeded newly mined BTC supply.
Since the beginning of this year, corporations have collectively purchased 5,774 BTC, while only 5,469 BTC were mined during the same period.
MicroStrategy is one of the most prominent corporate buyers, having added approximately 3,600 BTC to its reserves this year alone.
Other companies, including Semler Scientific and Ming Sheng Group, have also turned to BTC as part of their liquidity and reserve diversification strategies.
Hunter Horsley, CEO of Bitwise, expects this trend to continue throughout the year: "Corporate purchases of BTC will be a major theme in 2025."
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