Intesa's acquisition of digital assets is approximately equivalent to 11 BTC.

Source: cryptoslate

Translation: Blockchain Knight

It has been reported that Italy's largest bank, Intesa Sanpaolo, has entered the BTC market and acquired leading digital assets worth 1 million euros.

According to an internal email allegedly signed by the bank's head of digital asset trading and investment, Niccolo Bardoscia, the acquired digital assets are approximately equivalent to 11 BTC.

Although Intesa has not explicitly confirmed this acquisition, several credible media outlets, including Reuters, have reported on it.

Meanwhile, Intesa's acquisition of BTC is another move following a series of strategic initiatives in the digital asset space.

It has been reported that the bank's Crypto Assets department was granted permission to conduct spot Crypto asset trading last year, which complements its existing Crypto asset options, futures, and ETF products.

However, it is still unclear whether this purchase of BTC indicates that the company will expand more broadly into the digital asset ecosystem.

However, BTC miner Riot Platforms' Vice President Pierre Rochard emphasized the significance of this shift, pointing out that financial institutions are increasingly recognizing the potential of BTC.

Rochard noted, "All banks need to start accumulating BTC to adjust their balance sheets."

In Italy's traditional financial sector, Intesa is recognized as a leader in the application of digital assets.

By market capitalization, Intesa is also a standout among Eurozone banks, with a market value of 69 billion euros, surpassing competitors like Santander (67 billion euros) and BNP Paribas (66 billion euros).

Market observers point out that Intesa's acquisition reflects the broader trend of financial institutions increasingly adopting BTC.

Data from Bitwise shows that by 2025, corporate demand for BTC has already exceeded the supply of newly mined BTC.

Since the beginning of this year, corporations have collectively purchased 5,774 BTC, while only 5,469 BTC have been mined during the same period.

MicroStrategy is one of the well-known corporate buyers, having added approximately 3,600 BTC to its reserves this year.

Other companies, such as Semler Scientific and Ming Sheng Group, have also turned to BTC as part of their liquidity and reserve diversification strategies.

Bitwise CEO Hunter Horsley expects this trend to continue throughout the year: "Corporate purchases of BTC will be a significant theme in 2025."

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