- Intesa Sanpaolo’s CEO shifted from calling digital assets a bubble in 2017 to purchasing 11 Bitcoin in 2025, though emphasising it’s primarily to serve sophisticated clients’ needs.
- Malaysia’s Prime Minister signals a significant policy shift toward crypto adoption, driven by digital transformation demands and the need to keep pace with technological changes.
- Thailand demonstrates openness to cryptocurrency markets by considering the approval of exchange-traded funds that would directly invest in digital assets.
- Multiple US states, including Texas, Oklahoma, New Hampshire and North Dakota, are pursuing Bitcoin investment initiatives through state savings and pension funds to hedge against inflation.
How the turns have tabled. In 2017, Carlo Messina, the CEO of Italy’s largest bank, Intesa Sanpaolo, called digital assets a ‘speculative bubble’. Fast forward to 2025, and the bank just bought 11 Bitcoin worth over a million USD, as Reuters reports.
In case you’re wondering why only 11 BTC and if they’re going to buy more soon, Messina said it was only a test:
We won’t become a bitcoin player. As a wealth management company that has the ambition to become like UBS, we have very sophisticated clients that may ask for this kind of investment, and you can’t serve them unless you have a presence [in the market].
Carlo Messina, CEO of Intesa SanpaoloNevertheless, Intesa Sanpaolo and Italy are joining a growing list of countries, states and companies showing an interest in crypto, specifically Bitcoin.
Related: Metaplanet Launches Bitcoin Magazine to Empower 1 Million Japanese with Crypto Know-how
According to a report in the New Straits Times, Malaysia is also considering a revision of its crypto policy. Although it’s nowhere near the level of commitment involved in actually buying crypto, Prime Minister Datuk Seri Anwar Ibrahim indicated that a policy shift due to high demand is coming.
We have talked about digital transformation, data centres and artificial intelligence. We now face demands which require us to think about making significant changes.
Datuk Seri Anwar Ibrahim, Malaysian Prime MinisterHe said the fast-evolving field requires the country to act swiftly so it’s not left behind and the policy shift “will be a radical departure from the old ways”.
And neighbour Thailand is also warming up to crypto. According to a Bloomberg report the country is considering allowing exchange-traded funds (ETFs) that would directly invest in cryptocurrency.
US States Go Pro-Bitcoin
Meanwhile, Oklahoma joins the growing list of US states showing an interest in investing in Bitcoin. Cody Maynard, a Republican Representative, introduced a bill on Wednesday to establish a strategic Bitcoin reserve.
The bill would let the state’s savings accounts and pension funds invest in digital assets such as Bitcoin.
In a statement, Maynard stressed the need for the fund’s careful management and the importance of it to “generate reliable returns for citizens, and safeguard purchasing power against inflationary pressures”.
Bitcoin represents freedom from bureaucrats printing away our purchasing power. As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.
Cody Maynard, Oklahoman Republican RepresentativeApart from being an inflation hedge, Maynard believes a Strategic Bitcoin Reserve Act will prepare Oklahoma for a future when digital assets play a dominant role globally.
Related: JPMorgan Predicts Altcoin-ETF Inflows Could Hit $14 Billion, Mirroring Bitcoin
By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.
Cody Maynard, Oklahoman Republican RepresentativeAdding to the excitement, Texas Senator Charles Schwertner has just announced his ambitions to launch a Strategic Bitcoin Reserve:
Oklahoma and Texas are just the latest states this week considering the digital asset space as a way for investment and diversification after news from New Hampshire and North Dakota captured observers’ attention.
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