Intesa Sanpaolo, Italy’s largest bank, has reportedly entered the Bitcoin market by acquiring €1 million worth of the key digital asset.
This amounts to about 11 BTC, according to an internal email reportedly signed by Niccolo Bardoscia, the head of the bank’s digital asset trading and investment department.
Although Intesa has yet to confirm the acquisition, several credible media outlets including Reutershave reported on it.
Meanwhile, Intesa’s reported Bitcoin acquisition follows a series of strategic moves in the digital asset space.
The bank’s crypto division was founded last year reportedly has received approval for spot cryptocurrency trading, complementing its existing offering of crypto options, futures and exchange-traded funds (ETFs).
However, it is unclear whether this Bitcoin purchase is a sign of a broader expansion into the digital asset ecosystem.
Nevertheless, Pierre Rochard, vice president of Bitcoin Miner Riot Platforms, emphasized the importance of this shift, noting that financial institutions are increasingly recognizing Bitcoin’s potential.
He stated:
“All banks should start accumulating BTC to recapitalize their balance sheets.”
Intesa is widely recognized as a leader in digital asset adoption within Italy’s traditional financial sector. It also holds the first place among the Eurozone banks measured by market capitalization, valued at €69 billion, surpassing competitors such as Santander (€67 billion) and BNP Paribas (€66 billion).
Institutional Bitcoin Interest
Market observers noted that Intesa’s purchase reflects a broader trend of increased Bitcoin adoption among financial institutions.
Facts from Bitwise emphasizes that corporate demand for Bitcoin will exceed the supply of newly mined coins by 2025. Companies have collectively purchased 5,774 BTC since the start of the year, while only 5,469 BTC were mined during the same period.
Among the prominent corporate buyers is MicroStrategy, which added about 3,600 BTC to its reserves this year. Other companies such as Semler Scientific and Ming Shing group have also turned to Bitcoin in their liquidity and reserve diversification strategies.
Hunter Horsley, CEO of Bitwise, expects this trend to continue this year, proverb:
“Companies buying Bitcoin will be a major theme of 2025.”
