It’s been reported that Banca Intesa Sanpaolo is the first Italian bank known to have acquired Bitcoin, according to email screenshots leaked on the site 4chan.
As per a report from Wired Italia, traders have noticed that Banca Intesa Sanpaolo, Italy’s largest bank in terms of assets, has made a recent purchase of cryptocurrency. With this move, Intesa Sanpaolo is now the first Italian bank to invest in digital currency, having acquired approximately 11 Bitcoin (BTC), valued at roughly €1 million or $1.02 million.
The initial disclosure about the investment was made on a picture-sharing platform called 4chan, where individuals can upload images and post comments without revealing their identities. On January 13th, an unidentified user published screenshots of email conversations that were sent by Niccolò Bardoscia, who is in charge of digital assets trading and investments at Intesa Sanpaolo.
On January 13, 2025, Intesa Sanpaolo now holds 11 Bitcoins. This achievement is thanks to your collective efforts, as mentioned by Bardoscia in an email sent to some of the firm’s key personnel involved in the acquisition process.
Intesa Sanpaolo Bank, upon being questioned by Wired Italia, has authenticated the transaction, admitting they did purchase 11 Bitcoins. The bank’s confirmation also verified the authenticity of the email screenshots. Nevertheless, the bank declined to disclose any additional details about their cryptocurrency investment at this time.
According to the report, Wired Italia remains unclear about the motivation for Intesa Sanpaolo’s cryptocurrency investment and if this move signifies a plan to incorporate more Bitcoin investments in their future investment plans.
To date, no significant Italian credit institutions have publicly declared their intentions to invest in cryptocurrencies. Interestingly, Intesa Sanpaolo has kept quiet about a potential Bitcoin acquisition, not revealing this news via any of their official communication platforms yet.
Back in November, I got excited as my bank, Intesa Sanpaolo, broadened its digital offerings to incorporate direct trading of cryptocurrencies, according to Bloomberg. Previously, this Italian financial institution had even teamed up with Ripple Custody (formerly Metaco) to streamline the custody of tokenized assets for me and other customers like me.
Previously, as reported by crypto.news, Italy reduced its tax rate for cryptocurrency capital gains from approximately 42% to around 26% last November, following criticism from players within the crypto industry. Additionally, the Italian government has announced plans to establish specific guidelines for financial institutions dealing with cryptocurrencies under the European Union’s Market in Crypto Asset Regulation (MiCA).
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2025-01-14 14:41