The financial institution spent $1.02 million on this historic event
The Italian banking group Intesa Sanpaolo has made the first direct investment in Bitcoin by institutional counterparts in the country, acquiring 11 BTC. This was reported by Money At Home on Tuesday, January 14, citing internal email correspondence published on the 4chan platform.
Later, the media, referring to the bank’s press service, confirmed the authenticity of the correspondence. However, Intesa Sanpaolo declined to comment on the event for internal reasons. Therefore, it remains unclear whether this was a one-time investment or if the company plans to continue investing in cryptocurrency.
According to the correspondence, the banking group acquired 11 BTC at an average price of $92,727 on January 13. Intesa Sanpaolo spent €1 million or $1.02 million on the purchase.
Previously, Money At Home reported that Meta shareholders proposed investing in Bitcoin.
Meanwhile, authorities in Thailand are integrating cryptocurrency payments into the tourism industry.
