'Italy's Largest Bank' Intesa Sanpaolo Purchases Bitcoin…"Worth $1.02 Million"

Suehyeon Lee

Summary

Intesa Sanpaolo has purchased 11 Bitcoin, investing $1.02 million.
This event is notable as the first instance of an Italian financial institution directly investing in virtual assets.
The move by Italy's largest bank to invest in Bitcoin is expected to have a significant impact on the market.

Italy's largest bank, Intesa Sanpaolo, has reportedly purchased Bitcoin (BTC).

According to Wired, an Italian media outlet cited by Ublockchain on the 14th (local time), Intesa Sanpaolo has acquired 11 BTC, valued at $1.02 million.

This purchase marks the first instance of an Italian financial institution directly investing in virtual assets (cryptocurrency), according to the media.

BTC