March 17, 2025
11 11 11 AM
Latest Post
Bitcoin Network Hashrate Inched Higher in March as Mining Economics Weakened: JPMorgan Bitcoin, S&P 500 Take Backseat to Stagflation Trade as Trump Tariffs Threaten to Derail Growth Ether in Structural Decline, Year-End Price Target Slashed to $4K: Standard Chartered CoinDesk 20 Performance Update: Solana (SOL) Falls 3.9%, Leading Index Lower Digital Asset Investment Outflow Extends Into Fifth Week ECB’s Villeroy Says U.S. Crypto Support Could Trigger Next Financial Emergency Strategy Leverages STRK ATM to Acquire 130 More Bitcoin After Four Straight Monday Declines, What’s on the Cards for Bitcoin? Crypto Daybook Americas: Recession Concerns Stifle BTC Recovery Prospects, Memecoins Buzz Bitcoin Faces Massive ‘Supply Gap’ Between $70K and $80K

One of Italy’s Largest Bank Buys $1M Worth of Bitcoin: Report

Bitcoin (BTC), continues to get further entrenched into the traditional finance system. Italy’s largest bank by assets, Intesa Sanpaolo, has bought 11 BTC for over $1 million, according to a Reuters report.

Reuters saw an internal message that said, “As of today, Jan. 13, 2025, Intesa Sanpaolo owns 11 bitcoins”.

Intesa Sanpaolo currently has a market capitalization of roughly $73 billion, putting it at 247 out of the top 250 most valuable companies. The share price is slightly higher today, up over 2%.

According to Reuters, Intesa has had a proprietary trading desk in place for the past few years and also handles spot trading for other cryptocurrencies.

BTC is up 2% on Tuesday, trading over $96,500, after plunging over 5% on Monday, touching a low of around $89,400.

This post was originally published on this site