JAKARTA - The increase in the price of Bitcoin caused a public uproar. Previously, the price of Bitcoin recorded its new all time high (ATH) at the level of US$108,000 or Rp1.7 billion per coin. The new achievement of the price of BTC on December 17, 2024, teased retail investors and companies in various countries.
This time one of the largest banks in Italy, Intesa Sanpaolo decided to invest in Bitcoin. Intesa Sanpaolo officially plunged into the crypto world by investing around $1 million to buy 11 Bitcoins.
This decision was revealed from an internal email leaked in an online forum. The email was allegedly written by Niccol total Bardoscia, head of the Digital Trade Division, Intesa Sanpaolo. The bank confirmed this investment without providing details of the long-term plan.
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After the bank's activities became known to the public, many questioned whether this was just exploration or part of a major strategy to enter the crypto sector. Even so, the bank has not provided an official statement regarding its purpose.
Information that the Intesa Sanpaolo bank bought Bitcoin surfaced shortly after the Italian government raised its crypto asset profit tax from 26% to 42% from 2025. The policy of raising income taxes from cryptocurrencies has drawn criticism from local investors.
On the other hand, the steps taken by Intesa Sanpaolo are in line with the global trend of institutional adoption. Companies like MicroStrategy are also expanding their Bitcoin portfolio. In the US, President-elect Donald Trump proposed a Bitcoin national reserve, which could significantly change crypto regulation.
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