Banca Intesa Sanpaolo, the country’s largest bank by assets, has officially entered the crypto game by purchasing 11 Bitcoin worth around $1.02 million.
This is a historic moment as it’s the first time a major Italian bank has made a direct investment in cryptocurrencies.
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Not paper bitcoin, but the real one
Intesa Sanpaolo caused some hype revealing the bank’s latest crypto acquisition. Niccolò Bardoscia, who heads up digital assets trading at the bank, confirmed the purchase in an email.
“As of today (Monday), Intesa Sanpaolo owns 11 Bitcoin. Thank you all for the teamwork!”
Also worth to mention that we don’t know much on why they chose Bitcoin or what their future plans are in the crypto space.
Last November, Intesa Sanpaolo expanded its digital assets desk to include spot trading for cryptocurrencies, moving beyond just trading options and futures.
Changing times in Italy too
Italy is shaking up its crypto tax laws, after in December, the Senate finalized tax rates for crypto capital gains, setting a 26% tax for 2025 and planning to bump it up to 33% in 2026.
In July, Intesa also made headlines by becoming the sole institutional investor in a digital bond issuance from Italy’s development bank, Cassa Depositi e Prestiti. This was a significant step toward adopting digital assets in Italy.
New crypto laws in the old continent
With the European MiCA Regulation rolling out, there’s a big shift happening in how crypto service providers are regulated across the EU.
As Intesa Sanpaolo steps into Bitcoin, it reflects a growing trend among traditional financial institutions exploring cryptocurrencies, and it seems like Italy is gearing up for an exciting new chapter.
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