Yesterday we had news of the Ming Shing group buying over $47 million Bitcoin, purchasing 500 BTC at an average price of $94,375 per coin. Now the Intesa Sanpaolo has bought theirs.

If both the Ming Shing Group and Intesa Sanpaolo are buying Bitcoin, it really gives a signal that a shift in how traditional businesses view Bitcoin. Which is very satisfying.

Although the Intesa Sanpaolo CEO (Carlo Messina) said it is a test. Although i still see 1 million euros worth of Bitcoin as a large investment.

Which other firm/organization is next? I cant wait to hear more news

We have just started. This is the beginning of banks and governments having more support for bitcoin. A time is coming that the banks and governments will buy more bitcoin but we would not talk about it anymore as most countries around the world are buying bitcoin. A time is coming most banks of the world and most countries in the world would have all bought bitcoin. This is a good news.

No need to convince anyone. They will buy at the price that they deserve. Intesa Sanpaolo could have bought bitcoins when the price was at $50k but see the price they bought it at. Some other banks would buy at $150k soon.

Crypto is going mainstream and it cannot escape regulation.
More adoption will result in a price increase. We will see people buying at $150k. What I am thinking now is that will the "the most cautious and conservative savers" buy the bitcoin or the bitcoin ETFs?

At a time when the Italian government was planning to increase cryptocurrency capital gains tax, the first Italian bank had just purchased 11 Bitcoin. This might be the beginning of the good news from Italian Banks. I am just wondering where some governments have refused to lift sanctions on banks to deal with or invest in Bitcoin. This is the situation in my country, this has made them miss out on the benefits that Bitcoin offers.     

Some Bitcoin critics might see the number of these purchases as insignificant. However, I am more concerned about the ripple effect of the involvement of these institutions. More investors might decide to join the sector because of this news.   

I hope this is the beginning, as several of you have said, and that this is the first of many purchases, that they start buying regularly (DCA) because 1 million in a bank that has a market cap $74.21 B is like a drop in an ocean.

$1 million worth of bitcoin is considered a test of bitcoin more than a purchase and since the data is leaked and not disclosed it is difficult to know whether it is for investment purposes and will be followed by other investments or just for testing.

I did a little digging and according to Reuters the purchase was requested by clients and the limits of investment in bitcoin will be very tight.

Sounds about right considering what entity we are talking about.
They have reliable methods, and Bitcoin is just another one on top of that - they would like to see it all work and click for themselves before going with bigger funds into it. Understandable, imo.

Banks that are starting to turn towards Bitcoin are an indicator of literacy in the latest technologies. Those who see the prospects of Bitcoin manage to buy it at a price that will certainly bring them additional profit. The more banks "wake up" to buy, the higher the price we will see since it is obvious that this will turn into a competition of who has what and how much in stock.

Ming Shing Group is in for the profit.  Since they believed that Bitcoin has high liquidity, they wanted to take advantage of the bull run and possible price peak this year.  Maybe they are convinced that Bitcoin will at least cross $150k this year so a 50% profit isn't bad for a year's investment.  Besides they ought to believe that they can liquidate Bitcoin anytime they stumble with financial problems.  Although they are not in financial sector, it does not limit their funds to invest in Bitcoin.

It is really surprising how the Bitcoin movement started by Trump has influenced the global financial and political sector.   We might see other banks follow in investing and holding Bitcoin.  If this continues, we might see Bitcoin crossing $200k this year.  It is that, with bank involvement, regulation, and centralization on Bitcoin-integrated apps would probably also ramp up.

It’s true, because no company would invest in Bitcoin without aiming for profit. The idea of Bitcoin reaching $150k seems realistic, especially now that it’s heading back toward $100k again. But what I really appreciate on their statement is they saw the high liquidity of bitcoin, and even if profits aren’t guaranteed, liquidity is always there, regardless of market conditions.