Italy’s Largest Bank Makes First Bitcoin Investment

Intesa Sanpaolo purchases 11 BTC for over $1 million, signaling a potential shift in Italy's financial sector toward cryptocurrency.

Intesa Sanpaolo, Italy's largest banking group by assets, confirmed the purchase of 11 Bitcoins for approximately €1 million ($1.025 million USD).
The purchase marks the first direct investment in cryptocurrency by an Italian bank, highlighting growing institutional interest in digital assets.
The transaction was confirmed through both a leaked internal email and the bank's press office, though the motivations and future plans remain undisclosed.
The move comes as Italy debates its regulatory stance on crypto, with planned increases to capital gains taxes on digital assets postponed until 2026.
Intesa Sanpaolo has been exploring blockchain and digital asset opportunities for nearly a decade, including underwriting Italy's first blockchain-based digital bond in 2024.