Intesa Sanpaolo, Italy’s largest bank, has reportedly entered the BTC market and acquired €1 million worth of the leading digital asset.
According to an internal email allegedly signed by Niccolo Bardoscia, the head of the bank’s digital asset trading and investment department, the acquired digital assets are equivalent to approximately 11 BTC.
Although Intesa has not yet confirmed the acquisition, it has been reported by several credible media outlets, including Reuters.
Meanwhile, Intesa’s acquisition of BTC follows a series of strategic moves in the digital asset space.
Last year, the bank’s Crypto Assets division was reportedly approved to conduct spot Crypto Assets trading, which is in addition to its existing Crypto Assets options, futures, and ETF products.
However, it is unclear whether the purchase of BTC indicates a broader expansion of the company into the digital asset ecosystem.
However, Pierre Rochard, vice president of BTC minier Riot Platforms, emphasized the significance of this shift, pointing out that financial institutions are increasingly recognizing the potential of BTC.
Rochard pointed out: "All banks need to start accumulating BTC to adjust their balance sheets."
In the traditional financial sector in Italy, Intesa is recognized as a leader in the application of digital assets.
Intesa is also the leader among eurozone banks by market value, with a market value of 69 billion euros, surpassing competitors such as Santander (67 billion euros) and BNP Paribas (66 billion euros).
Market observers pointed out that Intesa's acquisition reflects the general trend of increasing adoption of BTC by financial institutions.
Data from Bitwise shows that corporate demand for BTC in 2025 has exceeded the supply of newly mined BTC.
Since the beginning of the year, companies have purchased a total of 5,774 BTC, while only 5,469 BTC have been mined during the same period.
One of the notable corporate buyers is MicroStrategy, which has added about 3,600 BTC to its reserves this year.
Other companies such as Semler Scientific and Mining Group have also turned to BTC in their liquidity and reserve diversification strategies.
Bitwise CEO Hunter Horsley expects the trend to continue this year: Corporate purchases of BTC will be an important theme in 2025.
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