Intesa Sanpaolo Bank Makes Historic Bitcoin Purchase in Italy

Intesa Sanpaolo makes a historic move by purchasing 11 bitcoins, signaling a shift in Italy’s approach to digital assets.

Intesa Sanpaolo, Italy’s largest banking group, has bought 11 bitcoins worth about 1 million euros. It is the first time a major financial institution in Italy buys cryptocurrencies directly. The purchase took place on January 13, 2025 when one euro could buy from 88,496 to 93,130 Bitcoin. Within this range, Intesa Sanpaolo bought the bitcoins.

Email exchanges originating on 4Chan, an online platform, have revealed the information. Niccolò Bardoscia, head of digital assets trading and investments at Intesa Sanpaolo, confirmed the purchase in the emails. The bank now owns 11 bitcoins, he said, thanking its staff for their work. But Bardoscia is an experienced trader and mobile app developer. It confirmed that the bank was making a big step in the digital asset market.

Intesa Sanpaolo Buys Bitcoin, Signaling Change in Banking Landscape in Italy

According to Wired Italia, Intesa Sanpaolo confirmed the news without providing further details. The bank did not elaborate why it made the purchase or how it fit into the bank’s strategy. Another reason the buying Bitcoin is because of this particular time doesn’t seem to make sense. ‘Initial leak off the bank’s back,’ the bank did not confirm the fact, and just stated that it did not authorize the initial leak.

This purchase is an event of landmark in Italy. This is the first time that any major credit institution in the country has directly invested in cryptocurrencies. Italy’s cautious approach toward digital assets makes the purchase a notable one, however, too. For example, Fabio Panetta, the Governor of the Bank of Italy, warned people off buying assets like Bitcoin and Ethereum. In contrast, Intesa Sanpaolo’s action appears a new way regarding cryptocurrencies in Italy.

It could be a sign that Italian financial institutions are becoming more open to digital assets. This could lead other banks and financial institutions to make similar purchases moving forward. Overall, this event is an important moment in Italy’s financial history—and with regard to cryptocurrencies in particular. Finally, attitudes about digital assets are likely to continue to shift, and more financial institutions could start to embrace them in the coming years.