An Italian lawmaker is urging banking foundations in the country to invest in Bitcoin, arguing that such investments could foster public support for the cryptocurrency.
Marcello Coppo, an Italian parliament member, believes that by allocating a small portion of their income to Bitcoin, these foundations, which typically support social and philanthropic causes, could potentially reap significant returns and demonstrate the viability of the asset.
Coppo acknowledges that Bitcoin has faced “excessive distrust” in Italy, and these foundation investments could serve as “positive tests” to shift public perception.
While the lawmaker’s proposal focuses on foundation investments, he does not foresee the Italian Treasury adopting Bitcoin as a strategic reserve asset anytime soon, despite growing momentum in the United States.
Coppo’s call comes on the heels of reports that Intesa Sanpaolo, Italy’s largest bank, recently purchased $1 million worth of Bitcoin. This move coincides with a surge in the cryptocurrency market, pushing Bitcoin’s price above $100,000.
January 2025, Cryptoniteuae
