On January 13, Intesa Sanpaolo, Italy's largest bank, made its first investment in Bitcoin by buying 11 BTC for approximately €1 million ($1.02 million).
This comes after Bitcoin hit $100,000 in December.
The news was leaked via an internal email sent by Niccolò Bardoscia, head of digital asset trading at Intesa Sanpaolo. Bardoscia expressed his gratitude to the team and acknowledged the purchase would not have been possible without their teamwork.
Although Intesa Sanpaolo has not officially commented on the matter, Wired has confirmed the acquisition with the bank. This move by the Italian bank reflects the growing interest in BTC among institutions.