Meta vs Intesa Sanpaolo: who will be the first to conquer the cryptocurrency Olympus?

Meta vs Intesa Sanpaolo: who will be the first to conquer the cryptocurrency Olympus?

Intesa Sanpaolo and the Mysterious 11 BTC Purchase

Italian banking group Intesa Sanpaolo, according to the Italian publication Criptovaluta.it, has purchased 11 bitcoins. The relevant data was leaked to the 4chan forum. Although the bank has not officially confirmed the transaction, the press service allegedly stated that the purchase cost approximately 1 million euros. The average price of one bitcoin for the institution was $92,727. Interestingly, Intesa Sanpaolo is the first institutional counterparty in Italy to publicly take an interest in cryptocurrencies. Earlier, it supported the issuance of a digital bond on the Polygon blockchain for 25 million euros. Experts suggest that if the bank does switch to a larger investment strategy, it will become a beacon for the entire European financial system.

Meta Shareholders Urge to Add Bitcoin to Corporate Reserves

Meanwhile, Meta shareholder Ethan Peck has tabled a proposal urging the tech titan to diversify into Bitcoin. He points out that over the past five years, BTC has outperformed traditional assets (such as bonds) by an impressive 1262%.

However, this proposal follows a series of similar calls made to other tech giants like Microsoft and Amazon, many of which have been met with caution. Despite the undeniable hype around Bitcoin as an inflation hedge and store of value, high volatility and risk-aversion are leading reasons major corporations refrain from adding BTC to their corporate treasuries.

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