{"id":20303,"date":"2025-01-14T14:22:43","date_gmt":"2025-01-14T12:22:43","guid":{"rendered":"https:\/\/forklog.com\/en\/intesa-sanpaolo-italys-largest-bank-buys-11-btc\/"},"modified":"2025-01-14T14:22:43","modified_gmt":"2025-01-14T12:22:43","slug":"intesa-sanpaolo-italys-largest-bank-buys-11-btc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/intesa-sanpaolo-italys-largest-bank-buys-11-btc\/","title":{"rendered":"Intesa Sanpaolo, Italy\u2019s largest bank, buys 11 BTC"},"content":{"rendered":"

On January 13, Intesa Sanpaolo bought 11 BTC for about \u20ac1m. The deal was the Italian lender\u2019s first direct cryptocurrency transaction, reports Wired Italia<\/a>.<\/p>\n

News of the purchase by the country\u2019s largest bank emerged from leaked internal staff correspondence.<\/p>\n

According to journalists\u2019 findings, Intesa Sanpaolo executed the trade at a bitcoin price in the \u20ac89,000\u201391,000 range, before the rate dipped to a low of \u20ac88,496.<\/p>\n

A bank representative confirmed the purchase and the approximate valuation, but declined to provide any further information.<\/p>\n

Bitcoin reserves on the traditional market<\/h2>\n

Medical-technology company Semler Scientific bought an additional 237 BTC for $23.3m.<\/p>\n

According to a press release<\/a>, the purchases were made between December 10, 2024 and January 10, 2025 using proceeds from share sales and operating cash flow. The average price per coin was $98,267.<\/p>\n

The Nasdaq-traded firm brought its total cryptocurrency reserves to 2,321 BTC. It has spent $191.9m on the stash \u2014 an average of $82,687 per coin.<\/p>\n

On January 13, Hong Kong construction company Ming Shing announced<\/a> the purchase of 500 BTC.<\/p>\n

The trade was carried out on January 9 via Lead Benefit, a subsidiary incorporated in December in the British Virgin Islands. The investment in the digital gold totalled about $47m at an average purchase price of $94,375.<\/p>\n

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“We are confident that these investments will not only contribute to our growth, but also create substantial value for shareholders,” said Ming Shing director Wenjin Li.<\/p>\n<\/blockquote>\n

On January 10, American spirits producer Heritage Distilling announced<\/a> it was adopting a bitcoin standard. The company will allow online purchases to be paid in the first cryptocurrency and will begin investing in digital assets, keeping them as a strategic reserve.<\/p>\n

The decision was approved by the board of directors. The firm has begun developing and implementing internal rules to underpin the policy.<\/p>\n

\"Heritage-Distilling-Co.-Heritage-Distilling-Powered-by-LiquidRails-Google-Chrome\"
Source: Heritage Distilling website.<\/figcaption><\/figure>\n
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“Heritage has always been an innovator, and we are once again leading in craft spirits as we prepare to accept bitcoin as payment for online purchases, as well as to acquire and hold cryptocurrency as an asset,” commented the company\u2019s CEO Justin Stiefel.<\/p>\n<\/blockquote>\n

In the fourth quarter of 2024, AI-based education company Genius Group increased<\/a> the amount of cryptocurrency it holds to 319.4 BTC.<\/p>\n

The group invested about $30m in digital assets (average price \u2014 $93,919). Purchases were made over six weeks after it announced a Bitcoin-first strategy on November 12. Under the plan, the firm commits to holding 90% of current and future reserves in digital gold. The initial target is $120m.<\/p>\n

Public media company Thumzup Media said in early January it had bought ~9.8 BTC at $102,220 per coin, for roughly $1m.<\/p>\n

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ICYMI: Thumzup Buys $1 Million in Bitcoin to Diversify Liquid Assets.<\/p>\n

\u2714\ufe0f Management is requesting board approval to hold up to 90% of liquid assets in #bitcoin<\/a>
\u2714\ufe0f Coinbase\u2019s prime platform serves as custodian for Thumzup\u2019s #BTC<\/a>
\u2714\ufe0f Thumzup expected to be added to The #HODL<\/a> Top 70\u2026 pic.twitter.com\/jg5TvibXR9<\/a><\/p>\n

\u2014 Thumzup Media Corporation (@thumz_up) January 8, 2025<\/a><\/p><\/blockquote>\n