Italy's largest bank by total assets, Intesa Sanpaolo, has bought Bitcoin, becoming the first Italian bank to directly invest in BTC.
Intesa Sanpaolo invested a small amount in cryptocurrency, acquiring 11 BTC worth $1,05 million at the current rate. Accordingly, the deal made by the company has more symbolism than practical significance. The fact that a leading Italian bank decided to buy digital assets indicates the confidence of financiers in the high potential of the virtual currency.
Intesa Sanpaolo representatives did not disclose the reasons and purposes of investing in bitcoins. In this regard, it remains a mystery why the institution's management ordered the investment in BTC, and what strategy the organization will use in relation to BTC. It is quite possible that the company even sought to at least temporarily hide the purchase of digital assets. This hypothesis is supported by the fact that the bank's employees reported the deal only after the data leaked on the 4chan forum.
It is also worth noting that Intesa Sanpaolo's business has long been linked to digital assets. In July 2024, the bank acted as a guarantor for the issuance of Italy's first digital bond on the blockchain Polygon for €25 million. In November, Intesa Sanpaolo began offering cryptocurrency trading services to clients, having previously limited itself to options, futures and ETF , based on digital assets.
