Italy's Largest Bank Takes First Step into Bitcoin with $1 Million Purchase

Italy’s biggest bank, Intesa Sanpaolo, has made history by becoming the first Italian financial institution to buy 11 bitcoins for a "test" purchase worth $1 million. Initially a widespread rumor, Bloomberg has confirmed that Italy’s largest banking giant has indeed dipped its toes in Bitcoin.  According to an internal memo, the financial institution completed its first proprietary Bitcoin trade, investing the funds into the world’s largest digital currency. “It’s very small amounts, considering we have 100 billion…