One of Italy's Largest Bank Buys $1M Worth of Bitcoin: Report

Bitcoin (BTC), continues to get further entrenched into the accepted concern system. Italy's largest slope by assets, Intesa Sanpaolo, has bought 11 BTC for implicit $1 million, according to a Reuters report. Reuters saw an interior connection that said, "As of today, Jan. 13, 2025, Intesa Sanpaolo owns 11 bitcoins". Intesa Sanpaolo presently has a market capitalization of astir $73 billion, putting it astatine 247 retired of the apical 250 astir invaluable companies. The stock terms is somewhat higher today, up implicit 2%. According to Reuters, Intesa has had a proprietary trading table successful spot for the past fewer years and besides handles spot trading for different cryptocurrencies. BTC is up 2% connected Tuesday, trading implicit $96,500, aft plunging implicit 5% connected Monday, touching a debased of astir $89,400.