Italian lawmaker urges country’s banking foundation to buy Bitcoin

PANews News on January 20, Decrypt reported that an Italian lawmaker is urging Italy’s banking foundations to invest in Bitcoin, believing that such investments can accelerate the country’s support for the leading cryptocurrency. However, while the United States is pushing for a strategic Bitcoin reserve at both the national and state levels, he does not expect Italy to establish a similar reserve anytime soon.

Italian MP Marcello Coppo said in an interview on Friday that bank foundations should allocate a small part of their income to digital assets such as Bitcoin to potentially obtain substantial returns on investment; the foundation’s investment in Bitcoin may stimulate public concern The support of this cryptocurrency, while Bitcoin has long been the object of "excessive distrust" in Italy; we can start from a place where the risks are very low, and any positive tests can serve as case studies and examples.

According to previous news on January 14, Italian bank Intesa Sanpaolo purchased 11 BTC for about 1 million euros.