Bitcoin (BTC), continues to get further entrenched into the traditional finance system. Italy’s largest bank by assets, Intesa Sanpaolo, has bought 11 BTC for over $1 million, according to a Reuters report.
Reuters saw an internal message that said, “As of today, Jan. 13, 2025, Intesa Sanpaolo owns 11 bitcoins”.
Intesa Sanpaolo currently has a market capitalization of roughly $73 billion, putting it at 247 out of the top 250 most valuable companies. The share price is slightly higher today, up over 2%.
According to Reuters, Intesa has had a proprietary trading desk in place for the past few years and also handles spot trading for other cryptocurrencies.
BTC is up 2% on Tuesday, trading over $96,500, after plunging over 5% on Monday, touching a low of around $89,400.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Wall Street’s Bitcoin expectations have taken another hit. Citi has cut its 12-month Bitcoin target…
Bitcoin’s chart has looked heavy, but the on-chain picture is not quite as one-sided as…
The spot Bitcoin ETF trade is trying to steady itself again, and the timing matters.…
Bitcoin has started the new week with a little more colour on the screen. After…
Barstool Sports founder Dave Portnoy said he will hold bitcoin all the way down to…
Binance founder Changpeng Zhao said Satoshi Nakamoto's bitcoin should be frozen before quantum computers can…