(Alliance News) - Intesa Sanpaolo is the first Italian bank to invest in bitcoin, buying 11 bitcoins worth USD1 million, albeit with symbolic amounts, as Milano Finanza explained Wednesday.
CEO Carlo Messina explained that this was a limited test, considering that the bank holds EUR100 billion in its securities portfolio, the newspaper recalls.
The purchase was made through the Stuttgart Digital Exchange and serves to demonstrate the focus on digital channels, but is reserved for experienced institutional investors. Messina clarified that he himself does not invest in bitcoin.
According to MF, the deal emerged through an internal email and coincides with the presentation of a new agreement between Intesa and Confindustria, which provides EUR200 billion to revitalize the Italian production system.
The plan includes investments in sustainable transition, aerospace, AI and life sciences, accelerating the circular economy and innovative processes.
Messina also discussed the need for three-year industrial policies and a link between wage growth and productivity to stimulate consumption and reduce inequality.
By Claudia Cavaliere, Alliance News reporter
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