Bitcoin (BTC) continues to become increasingly entrenched in the traditional financial system. Italy’s largest bank by assets, Intesa Sanpaolo, has purchased 11 BTC for more than $1 million, according to a Reuters report.
Reuters saw an internal message that said: “As of today, January 13, 2025, Intesa Sanpaolo owns 11 bitcoins.”
Intesa Sanpaolo currently has a market capitalization of approximately $73 billion, ranking it 247th among the 250 most valuable companies. The share price is slightly higher today, more than 2%.
According to Reuters, Intesa has had its own trading desk for the past few years and also handles spot trading of other cryptocurrencies.
BTC rose 2% on Tuesday, trading above $96,500, after falling more than 5% on Monday, hitting a low around $89,400.
