Ad
News
Italy’s largest bank Intesa Sanpaolo enters Bitcoin market with initial €1 million investment Italy’s largest bank Intesa Sanpaolo enters Bitcoin market with initial €1 million investment

Italy’s largest bank Intesa Sanpaolo enters Bitcoin market with initial €1 million investment

Italy's Intesa Sanpaolo reportedly joins a growing number of financial institutions embracing Bitcoin amidst heightened corporate demand.

Italy’s largest bank Intesa Sanpaolo enters Bitcoin market with initial €1 million investment

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Intesa Sanpaolo, Italy’s largest bank, has reportedly entered the Bitcoin market by acquiring €1 million worth of the leading digital asset.

This translates to approximately 11 BTC, according to an internal email allegedly signed by Niccolo Bardoscia, the head of the bank’s digital asset trading and investment division.

Although Intesa has yet to confirm the acquisition, several credible media outlets, including Reuters, have reported on it.

Meanwhile, Intesa’s reported Bitcoin acquisition follows a series of strategic moves in the digital asset space.

Last year, the bank’s crypto division reportedly secured approval for spot crypto trading, adding to its existing offerings of crypto options, futures, and exchange-traded funds (ETFs).

However, it is unclear if this Bitcoin purchase signals its broader expansion into the digital assets ecosystem.

Nevertheless, Pierre Rochard, Vice President of Bitcoin Miner Riot Platforms, highlighted the significance of this shift, noting that financial institutions increasingly recognize Bitcoin’s potential.

He stated:

“All of the banks need to start accumulating BTC to recapitalize their balance sheets.”

Intesa is widely recognized as a leader in digital asset adoption within Italy’s traditional finance sector. It also holds the top spot among Eurozone banks by market capitalization, valued at €69 billion—outpacing competitors like Santander (€67 billion) and BNP Paribas (€66 billion).

Institutional Bitcoin interest

Market observers noted that Intesa’s purchase reflects a broader trend of increased Bitcoin adoption among financial institutions.

Data from Bitwise highlights that corporate demand for Bitcoin in 2025 has exceeded the supply of newly mined coins. Companies have collectively purchased 5,774 BTC since the beginning of the year, while only 5,469 BTC were mined during the same period.

Bitcoin Treasury
Corporate Bitcoin Treasury in 2025 (Source: Bitwise)

Among the prominent corporate buyers is MicroStrategy, which has added approximately 3,600 BTC to its reserves this year. Other firms like Semler Scientific and Ming Shing Group have also turned to Bitcoin in their liquidity and reserve diversification strategies.

Hunter Horsley, Bitwise CEO, expects this trend to continue this year, saying:

“Corporations buying Bitcoin is going to be a major theme of 2025.”

Mentioned in this article
People were interested in these podcasts
Play Episode
36min
CryptoSlate SlateCast
Paul Kohlhaas explores crypto’s role in revolutionizing Biotech
In a recent episode of the SlateCast, Paul Kohlhaas, the founder of BIO Protocol, joined CryptoSlate CEO Nate Whitehill and Senior Editor Liam "Akiba" Wright to discuss the future of biotechnology through decentralized science (DeSci). Kohlhaas explained BIO Protocol's vision for revolutionizing biotech funding and research by utilizing decentralized, open-source methods.Biotechnology as the Substrate for LifeBIO XYZ represents more than a typical biotech initiative. As Kohlhaas explained,“BIO XYZ stands for a movement to not be afraid of biotechnology, to like embrace it, and that it should be much more open source, back in the hands of the people.”The concept draws from "bio-accelerationism," echoing the AI acceleration movement in the tech world. Biotechnology, Kohlhaas argues, should be considered a new "substrate for life," akin to how artificial intelligence became a new substrate for intelligence.Kohlhaas elaborated on the fear surrounding biotechnology and genetic engineering, drawing parallels with the early fears surrounding AI.“People are afraid of genetic engineering and new biotechnological advances. However, just as AI has seen a movement to decentralize it, we believe biotechnology should be back in the hands of the people.”Empowering Patients and Scientists with DAOsBIO Protocol’s core innovation is decentralizing biotech research by connecting scientists, patients, and investors through decentralized autonomous organizations (DAOs). These DAOs allow communities to directly fund research that addresses specific medical challenges. Kohlhaas highlighted VitaDAO as a successful example, stating,“VitaDAO funded research into autophagy activators—substances that help healthy cells eliminate old cells—leading to novel drug developments.”In this decentralized model, patients can have a more significant role, providing not only funds but also valuable insights. “Patients often know what’s best for them,” Kohlhaas remarked, emphasizing the importance of invol
CryptoSlate SlateCast
Noelle Acheson on how crypto is shaping global macroeconomics
In a recent SlateCast episode, Noelle Acheson, author of the "Crypto Is Macro Now" newsletter, joined host Liam "Akiba" Wright and CryptoSlate CEO Nate Whitehill to discuss the growing influence of cryptocurrency on global macroeconomics and financial systems.Crypto's Impact on Monetary Policy: Acheson emphasized that crypto, particularly Bitcoin and stablecoins, is increasingly affecting monetary policy and capital flows worldwide. She noted:"There is an alternative now to the central bank currency, to the commercial bank currency, to the fiat currency. There is an alternative that the authorities are struggling to control. And that is important for monetary policy."The discussion highlighted how cryptocurrencies provide options for individuals in countries with unstable currencies or restrictive financial policies.Stablecoins and Global FinanceThe conversation turned to the significant role of stablecoins, particularly Tether (USDT), in the global financial ecosystem. Acheson pointed out:"Tether is a very key macro and crypto force. Crypto because of its size of its stablecoin and the spread of its use around the world, except the United States, and macro because of the amount it holds of U.S. government debt."The panelists discussed how Tether's large holdings of U.S. Treasuries could potentially influence macro-economic policies.Regulatory Landscape and U.S. ElectionsAcheson shared her thoughts on the potential impact of the 2024 U.S. presidential election on crypto regulations:"A Trump victory would be better for crypto. A Kamala victory, we don't know. This is just still the very big unknown."She suggested that a change in SEC leadership could significantly shift the regulatory approach to cryptocurrencies, regardless of which party wins.Crypto and Economic TransparencyAcheson highlighted an often-overlooked aspect of crypto adoption"That crypto is not all about risk. That it is actually relatively safe. That, this is especially overlooked, it enhances transpa
CryptoSlate SlateCast
From failure to fortune: Jonathan Bouzanquet on blockchain and gaming
Jonathan Bouzanquet, the Co-Founder and Chief Strategy Officer of Playa3ull Games, joined CryptoSlate’s SlateCast alongside Editor-in-Chief Liam “Akiba” Wright and CEO Nate Whitehill. In a thought-provoking discussion, Bouzanquet shared his vision for blockchain gaming, emphasizing a community-first approach, sustainable funding, and the potential of blockchain technology to revolutionize the gaming industry.Building Games Backwards: A Player-Centric PhilosophyThe discussion delved into Playa3ull's unique approach to game development, which they call "building games backwards." This method emphasizes community involvement from the outset.Jonathan stated, "With Play3bull, we bring the community back into the game. We don't want to just tell the player, this is our game, play it or fuck off. We want to say, here's the game. What do you think? How can we make it better?"This strategy involves an advisory council rather than a traditional DAO, aiming for a dialogue between developers and players to shape the game's evolution based on real feedback.The Importance of Digital Asset OwnershipA significant part of the conversation revolved around the benefits of blockchain for gaming, particularly in terms of asset ownership. Jonathan highlighted the frustrations with traditional gaming where players do not own their in-game achievements."Since you invest such enormous amounts of time, it's important to have those assets owned and they are valuable,"he remarked, envisioning a future where these assets could have inter-game utility.Playa3ull's Economic Model: The Bull TokenJonathan detailed Playa3ull's economic system, centered around the Bull Token. Unlike many gaming platforms with separate tokens for each game, Playa3ull uses a single token across its ecosystem for stability and broader utility."So, our coin comes into existence through our node system... half the coin goes to the company for company function, and half the coin goes to the nodes,"he explained, outlining a
CryptoSlate SlateCast
Giovanni Santostani explains Bitcoin Models and Power Law's expansion
Bitcoin Power Law Theory creator Giovanni Santostani refutes some criticisms of his Bitcoin models and explains how the power law expands within the Bitcoin ecosystem.Credits Thanks to Liam 'Akiba' Wright for hosting and producing the episodes.   Connect with CryptoSlate: - X - Substack - Google News - Telegram - Instagram

Hide All Glossary Terms