Share this article
One of Italy's Largest Banks Buys $1M Worth of Bitcoin: Report
Banking giant Intesa Sanpaolo, which has a market cap of $73 billion, has made its first crypto purchase.
Updated Jan 14, 2025, 1:43 p.m. Published Jan 14, 2025, 11:05 a.m.
What to know:
- Italy's largest bank by assets, Intesa Sanpaolo, has purchased 11 BTC worth $1 million.
- Intesa set up a proprietary trading desk for digital assets back in 2023
Bitcoin , 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.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Drop Wipes Out $370M in Bullish Bets as BTC, ETH Give Back Gains
Binance, Hyperliquid, and Bybit were the most affected exchanges, comprising 72% of all forced unwinds.
What to know:
- Crypto markets experienced a significant leverage reset with over $514 million in positions liquidated in 24 hours.
- Long positions accounted for $376 million of the liquidations, indicating traders were heavily betting on continued market gains.
- Binance, Hyperliquid, and Bybit were the most affected exchanges, comprising 72% of all forced unwinds.
Top Stories
