Intesa Sanpaolo, Italy's largest financial institution, has reportedly entered the Bitcoin market with a €1 million acquisition of the main digital asset.
Based on an inner e mail purportedly signed by Niccol Bardoscia, Head of Digital Property Buying and selling and Investments, this equates to roughly 11 BTC.
Though Intesa has not but confirmed the acquisition, it has been reported by a number of credible media retailers, together with Reuters.
In the meantime, Intesa's introduced acquisition of Bitcoin follows a collection of strategic strikes within the digital asset area.
Final yr, the financial institution's crypto division reportedly secured approval for spot cryptocurrency buying and selling, including to its current providing of crypto choices, futures and exchange-traded funds (ETFs).
Nevertheless, it’s unclear whether or not this buy of Bitcoin indicators its broader growth into the digital asset ecosystem.
Nonetheless, Pierre Rochard, Vice President of Bitcoin Miner Riot Platforms, emphasised the importance of this shift, noting that monetary establishments are more and more recognizing Bitcoin's potential.
said:
“All banks want to begin hoarding BTC to recapitalize their steadiness sheets.”
Intesa is widely known as a pacesetter within the adoption of digital belongings within the conventional Italian monetary sector. It additionally ranks first amongst eurozone banks by market capitalization at €69bn – forward of rivals reminiscent of Santander (€67bn) and BNP Paribas (€66bn).
Institutional Curiosity in Bitcoin
Market watchers famous that Intesa's buy displays a broader pattern of elevated bitcoin adoption amongst monetary establishments.
Knowledge from Bitwise highlights that in 2025, company demand for bitcoins exceeded the availability of newly mined cash. The businesses have collectively bought 5,774 BTC because the starting of the yr, with solely 5,469 BTC mined in the identical interval.
Notable company patrons embody MicroStrategy, which added roughly 3,600 BTC to its reserves this yr. Different corporations reminiscent of Semler Scientific and Ming Shing Group have additionally turned to bitcoin of their liquidity and reserve diversification methods.
Hunter Horsley, CEO of Bitwise, expects this pattern to proceed this yr, saying:
“Bitcoin shopping for corporations would be the essential subject of 2025.”
