Italy's biggest bank, Intesa Sanpaolo , has made its first proprietary bitcoin trade, buying 1 million euros ($1 million) of the world's largest digital currency in what CEO Carlo Messina described as "a test".

Intesa Sanpaolo, the country's largest bank, has ventured into the cryptocurrency market by purchasing $1 million worth of Bitcoin (BTC).

Intesa Sanpaolo, the Italy's biggest bank has made its first proprietary Bitcoin purchase, buying roughly 1 million euros ($1 million) worth of the cryptocurrency. The lender bought 11 Bitcoin on Monday, the bank’s digital asset trading and investments head Niccolò Bardoscia said in an internal email that was posted on online forum 4chan.

Italy's biggest bank Intesa Sanpaolo on Monday completed its first proprietary bitcoin trade investing 1 million euros ($1.03 million) into the world's largest digital currency, an internal memo showed.

Italy's largest bank, Intesa Sanpaolo, buys $1M in Bitcoin, marking its first spot purchase amid growing institutional crypto adoption.

A few days after the entry into force of the MiCAR, According to Mf, on Monday, Intesa Sanpaolo would have bought 11 bitcoins, entering the crypto market

While the purchase was confirmed, the banking group declined to elaborate on its motivations or potential future strategies involving Bitcoin

Italy’s largest bank, Intesa Sanpaolo, invests €1M in Bitcoin, becoming the first Italian bank to make a direct move into crypto.

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".