Intesa Sanpaolo, Italy’s largest bank by assets, has purchased 11 bitcoins for over $1 million. This move was confirmed by an internal message stating that as of January 13, 2025, the bank owns 11 bitcoins. The bank, with a market capitalization of approximately $73 billion, ranks 247th among the top 250 most valuable companies globally. Its share price saw a slight increase of over 2% on the day of the announcement. Intesa Sanpaolo has been active in the cryptocurrency market, having established a proprietary trading desk for digital assets in 2023. Meanwhile, Bitcoin itself experienced a volatile week, dropping over 5% on Monday to a low of around $89,400 before recovering to trade over $96,500 on Tuesday, marking a 2% increase.
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