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Italy’s largest bank makes history with 1,000,000 EUR BTC purchase: report

Intesa Sanpaolo confirmed the acquisition of 11 Bitcoins for approximately 1,030,000 USD, revealing a notable change in its previously conservative stance on digital assets. This transaction is seen as a response to increased institutional interest in Bitcoin, with other firms also expanding their crypto investments.

This purchase follows the bank’s past efforts in digital finance, including underwriting Italy’s first on-chain digital bond. As market dynamics evolve, Intesa Sanpaolo’s actions signify a defiance of traditional views held by the central bank regarding cryptocurrency, setting a precedent for future institutional participation.

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