Bitcoin (BTC), continues to get further entrenched into the traditional finance system. Italy’s largest bank by assets, Intesa Sanpaolo, has bought 11 BTC for over $1 million, according to a Reuters report.
Reuters saw an internal message that said, “As of today, Jan. 13, 2025, Intesa Sanpaolo owns 11 bitcoins”.
Intesa Sanpaolo currently has a market capitalization of roughly $73 billion, putting it at 247 out of the top 250 most valuable companies. The share price is slightly higher today, up over 2%.
According to Reuters, Intesa has had a proprietary trading desk in place for the past few years and also handles spot trading for other cryptocurrencies.
BTC is up 2% on Tuesday, trading over $96,500, after plunging over 5% on Monday, touching a low of around $89,400.
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James Van Straten
https://www.coindesk.com/markets/2025/01/14/one-of-italys-largest-bank-buys-1-m-worth-of-bitcoin-report
2025-01-14 11:05:58
