Italy’s largest bank, Intesa Sanpaolo, has reportedly made its first Bitcoin (BTC) trade as it anticipates a significant increase in the value of the cryptocurrency this year. According to an internal memo seen by Reuters, the bank purchased 11 BTC worth over $1 million on Monday. CEO Carlo Messina stated that the trade was conducted as a test to prepare for clients who may be interested in investing in Bitcoin. He emphasized that the bank’s intention is not to become a major player in the Bitcoin market, as its capacity to invest in crypto assets is limited. Messina also highlighted the importance of having a presence in the market to serve sophisticated clients who may request such investments. Intesa Sanpaolo is currently the 36th largest bank in the world, with total assets of $1.06674 trillion as of the end of 2023. Analysts predict that the price of Bitcoin will reach $200,000 this year, driven by expectations of a more favorable regulatory environment under the administration of Donald Trump. At the time of writing, BTC is trading at $99,895.

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