Italy’s largest bank enters crypto market with $1M Bitcoin investment
Intesa Sanpaolo, Italy's largest bank, invested approximately 1 million euros ($1.02 million) in Bitcoin, acquiring 11 BTC on January 13, 2025. This investment follows Bitcoin's rise above $100,000 in December. The acquisition was confirmed through an internal email from Niccolò Bardoscia, head of digital assets trading. Institutional interest in Bitcoin is increasing, with Bitcoin exchange reserves hitting a near seven-year low on the same day due to hedge funds purchasing during the dip. MicroStrategy also bought over $243 million in BTC, raising its total holdings to over 450,000 BTC. Analysts suggest that Bitcoin remains susceptible to macroeconomic factors but predict a potential price increase above $150,000 by late 2025, driven by a significant rise in the global money supply.
