Giant Intesa Sanpaolo Becomes First Italian Bank to Invest €1 Million in Bitcoin, Marking Historic Shift in Traditional Banking
Italy’s largest bank, Intesa Sanpaolo recently bought 11 Bitcoin valued at roughly €1 million. This happens to be the first time an Italian bank has directly invested in Bitcoin, highlighting a major leap forward for traditional banking in the country.
A Major First for Intesa Sanpaolo
This purchase is a big deal, as it’s the first time an Italian bank has purchased Bitcoin. The entry of Intesa Sanpaolo into the world of crypto is evidence of how even traditional banks are beginning to sit up and take notice of digital currencies.
How the Purchase Came to Light
The news about the purchase came to light after the mail circulated online that revealed the purchasing incident. Powered by Niccolò Bardoscia, who fronts the bank’s digital assets division, the email laid out the details of the Bitcoin purchase; the bank confirmed it but has said little about a future with it.
Why Now?
The purchase of the peculiar timing came with the price of Bitcoin going below €91,000, dropping from a previous high of €100,000. This drop in prices came on the heels of Donald Trump’s election victory, and a shake-up of the global economy led by a strengthening Dollar Index..
Intesa Sanpaolo’s Growing Interest in Digital Assets
Intesa Sanpaolo is well-known for having explored blockchain and digital assets for years now. In 2025, the bank helped launch Italy’s first blockchain-based digital bond valued at €25 million, indicating that the bank is serious about getting into new technologies such as blockchain.
Changing Views on Bitcoin
The stand of the bank changed drastically since its 2017 top executive, Carlo Messina, referred to Bitcoin during its $10,000-per-coin phase as a “speculative bubble.” Intesa expanded its offerings available to clients and started trading digital assets seamlessly, first with spot trading options in November 2024.
About Intesa Sanpaolo
Intesa Sanpaolo was the outcome of the merger between two banks, Banca Intesa and Sanpaolo IMI, in 2007. It is similar to the big banks in Italy, with over 90,000 employees. Its income is higher than €25 billion each year, while it reaches a market value above €70 billion.
New Cryptocurrency Rules in Italy
Recently, the Italian government announced plans to increase taxes on cryptocurrency profits, increasing the profit tax from 26% to 42%. The change is part of Italy’s efforts to raise more money by 2025. It is unclear how this will affect the future of cryptocurrencies in Italy, including banks like Intesa Sanpaolo.
Bitcoin’s Price and Market Experts’ Views
Some experts say that now is the right time to buy Bitcoin. They have found that Bitcoin prices often move inversely to the dollar index. If the dollar index falls, it could help the price of Bitcoin rise again in the near future.
What’s Happening in the U.S. with Cryptocurrency?
In the United States, the cryptocurrency world is waiting to see what happens with President-elect Donald Trump. Reports suggest that during his second term, he may issue an executive order regarding cryptocurrencies, which could create a new council with industry experts to help shape the future of cryptocurrencies.
Growing Interest from Big Companies
While €1 million may seem small for a large bank like Intesa Sanpaolo, it is in line with what other large companies are doing. Companies like MicroStrategy and Japan’s Metaplanet have invested heavily in Bitcoin, suggesting that more institutions are interested in digital assets.
Intesa Sanpaolo’s Strong Stock Performance
Intesa Sanpaolo shares have performed well recently, recovering from the decline during the 2008 financial crisis and the COVID-19 pandemic. The bank’s share price has risen from €1.3 in 2020 to more than €3.9 recently, reflecting its recovery and growth.
What’s Next for Digital Assets in Europe?
As Europe introduces clearer rules on digital assets, more traditional banks are starting to feel comfortable exploring cryptocurrencies and blockchain technology. Intesa Sanpaolo’s purchase of bitcoin could be a sign that more banks are ready to follow suit. This version uses simpler language and aims to make the content easier to understand, but still includes all the important information.
