Large Investors Accumulation? Italy's largest bank bought BTC for the first time during the bitcoin decline, and a Japanese energy company continues to increase its holdings.

According to local media reports in Italy, Intesa Sanpaolo, the largest banking group in Italy, purchased 11 BTCs for the first time during the recent crypto world downturn, equivalent to 1 million euros. Similarly, Remixpoint, a Japanese energy company, increased its holdings by 33.34 BTC, bringing its total holdings to 333.19 BTC (31.7 million US dollars). While most retail investors dare not say they are buying the dip, Web2 companies continue to increase their BTC holdings.

Italy's largest bank confirms buying one million euros worth of BTC during the downturn

According to reports, an internal email from the largest banking group in Italy, UniCredit, has recently been circulating on local online forums. The email shows that UniCredit spent 100 euros to purchase 11 BTC. The email was signed by Niccolò Bardoscia, who is responsible for the group's digital asset trading and investment department.

The United Press Office confirmed to local media that the company purchased 11 BTC for approximately 1 million euros. At the current exchange rate, 1 million euros is about 1.02 million US dollars, divided by 11 BTC, it is found to be around 93,000 in cost, equivalent to buying at the dip in the recent market downturn. This is also the first case of an Italian bank holding BTC.

Japan Energy Corporation follows in the footsteps of MicroStrategy and MetaPlanet to increase holdings of cryptocurrencies

In addition, Japanese energy consultancy firm Remixpoint announced on Friday that it has added 33.34 BTC at a price of 500 million yen (3.2 million US dollars), bringing its total BTC holdings to nearly 333.19 BTC (31.7 million US dollars).

The statement also revealed that the company currently holds

1,391.3 ETH (valued at 4.4 million US dollars)

6,724.5 SOL (worth $1.2 million)

513,060 XRP (worth 1.3 million US dollars)

19,468.9 AVAX (worth 69.465 million US dollars)

1.15 million DOGE (valued at $402,500)

The company announced the purchase of cryptocurrencies starting from September last year, mainly to hedge against the risk of the depreciation of the Japanese yen. Reports also indicate that Remixpoint will follow the BTC reserve strategy of MicroStrategy and Metaplanet.

Big players absorb funds? Italy's largest bank buys BTC for the first time during BTC's decline, while a Japanese energy company continues to increase its holdings.