A First in Italian Banking: Official Entry into the Crypto World - Coin Bulletin

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Intesa Sanpaolo, Italy's largest bank, became the first Italian financial institution to directly purchase cryptocurrencies in a transaction on January 13, 2025.

The bank purchased a total of 11 Bitcoins for approximately 1 million euros. This move is considered a significant shift in attitude towards cryptocurrencies in the traditional banking world in Italy.

Historical Purchase: When, How Much?

According to leaked email correspondence, the purchase was made in the morning and Bitcoin traded between 88,496 and 93,130 euros on January 13th. Based on this data, it is estimated that Intesa Sanpaolo bought Bitcoin at a price between 89,000 and 91,000 euros.

The team carrying out the transaction on behalf of the bank worked under the leadership of Niccolò Bardoscia, responsible for Intesa Sanpaolo's digital assets and investments.

A First in Italy: A Bold Step Away from Traditional Banking

This purchase represents a first in the Italian banking sector. No major Italian financial institution has previously announced the direct purchase of cryptocurrencies to add to its portfolio. This move is considered a significant turning point in the banking sector, which generally exhibits a cautious approach towards cryptocurrencies in Italy.

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