Italy's biggest bank, Intesa Sanpaolo , has made its first proprietary bitcoin trade, buying 1 million euros ($1 million) of the world's largest digital currency in what CEO Carlo Messina described as "a test".

Italy’s biggest bank, Intesa Sanpaolo, has acquired Bitcoins in a $1.03 million purchase. As of today, January 13, 2025, the bank owns 11 Bitcoins. Intesa Sanpaolo has now become the first bank in Italy to gain direct exposure to cryptocurrencies.

Intesa Sanpaolo, the country's largest bank, has ventured into the cryptocurrency market by purchasing $1 million worth of Bitcoin (BTC).

Italy's biggest bank Intesa Sanpaolo on Monday completed its first proprietary bitcoin trade investing 1 million euros ($1.03 million) into the world's largest digital currency, an internal memo showed.

Italy's largest bank, Intesa Sanpaolo, buys $1M in Bitcoin, marking its first spot purchase amid growing institutional crypto adoption.

Banking giant Intesa Sanpaolo, which has a market cap of $73 billion, has made its first crypto purchase.

While the purchase was confirmed, the banking group declined to elaborate on its motivations or potential future strategies involving Bitcoin

A few days after the entry into force of the MiCAR, According to Mf, on Monday, Intesa Sanpaolo would have bought 11 bitcoins, entering the crypto market