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