Italy’s Intesa Sanpaolo has reportedly joined the growing ranks of financial institutions embracing Bitcoin amidst rising corporate demand. The bank, recognized as Italy’s largest, is said to have acquired €1 million worth of the leading digital asset.
This acquisition, equivalent to approximately 11 BTC, was detailed in an internal email allegedly signed by Niccolo Bardoscia, head of the bank’s digital asset trading and investment division.
While Intesa Sanpaolo has not officially confirmed the purchase, credible sources, including Reuters, have reported the news.
The bank’s reported Bitcoin acquisition is part of a broader strategy in the digital asset space. Last year, Intesa’s crypto division secured approval for spot crypto trading, complementing its existing offerings in crypto options, futures, and exchange-traded funds (ETFs).
It remains unclear whether this purchase signals a larger move into the digital assets ecosystem, but the development has drawn attention from industry leaders. Pierre Rochard, Vice President of Bitcoin Miner Riot Platforms, emphasized the significance of this shift, stating:
“All of the banks need to start accumulating BTC to recapitalize their balance sheets.”
As a leader in digital asset adoption within Italy’s traditional finance sector, Intesa Sanpaolo holds a prominent position in the Eurozone. The bank’s market capitalization of €69 billion surpasses competitors such as Santander (€67 billion) and BNP Paribas (€66 billion).
Institutional Bitcoin Interest
Market analysts have noted that Intesa Sanpaolo’s Bitcoin purchase reflects a growing trend of institutional adoption. According to data from Bitwise, corporate demand for Bitcoin in 2025 has outpaced the supply of newly mined coins. Since the start of the year, companies have collectively acquired 5,774 BTC, while only 5,469 BTC were mined in the same period.
Prominent buyers include MicroStrategy, which has added approximately 3,600 BTC to its reserves this year. Other companies, such as Semler Scientific and Ming Shing Group, have also turned to Bitcoin as part of their liquidity and reserve diversification strategies.
Hunter Horsley, CEO of Bitwise, expects this trend to persist, stating:
“Corporations buying Bitcoin is going to be a major theme of 2025.”
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