Intesa Sanpaolo Enters Bitcoin Market with €1 Million Acquisition
Intesa Sanpaolo, Italy’s largest bank, has reportedly made its first foray into the Bitcoin market with the acquisition of €1 million worth of the leading digital asset. This translates to approximately 11 BTC, according to an internal email allegedly signed by Niccolo Bardoscia, the head of the bank’s digital asset trading and investment division.
While Intesa has not officially confirmed the acquisition, reputable media outlets such as Reuters have reported on it.
Intesa’s move into Bitcoin follows a series of strategic steps in the digital asset space. Last year, the bank’s crypto division reportedly obtained approval for spot crypto trading, expanding its offerings to include crypto options, futures, and exchange-traded funds (ETFs).
It remains unclear whether this Bitcoin purchase signifies a broader expansion into the digital assets ecosystem for the bank. However, Pierre Rochard, Vice President of Bitcoin Miner Riot Platforms, emphasized the significance of this development, noting that financial institutions are increasingly recognizing Bitcoin’s potential.
“All of the banks need to start accumulating BTC to recapitalize their balance sheets.”
Intesa is a trailblazer in digital asset adoption within Italy’s traditional finance sector and holds the top spot among Eurozone banks by market capitalization, valued at €69 billion—outpacing competitors like Santander (€67 billion) and BNP Paribas (€66 billion).
Institutional Interest in Bitcoin
Intesa’s Bitcoin purchase reflects a broader trend of increased adoption of the digital asset by financial institutions. Data from Bitwise reveals that corporate demand for Bitcoin in 2025 has outstripped the supply of newly mined coins. Companies have collectively acquired 5,774 BTC since the start of the year, while only 5,469 BTC were mined during the same period.
Major corporate buyers like MicroStrategy have added approximately 3,600 BTC to their reserves this year. Other companies, such as Semler Scientific and Ming Shing Group, have also diversified their liquidity and reserve strategies with Bitcoin.
Hunter Horsley, CEO of Bitwise, anticipates that the trend of corporations buying Bitcoin will continue throughout 2025. He stated:
“Corporations buying Bitcoin is going to be a major theme of 2025.”