PANews reported on January 20 that according to Decrypt, an Italian congressman is urging Italy's banking foundation to invest in Bitcoin, believing that such investments could accelerate the country's support for the leading cryptocurrency. However, despite the United States' push for the establishment of strategic Bitcoin reserves at both the national and state levels, he does not believe that Italy will establish similar reserves in the short term.

Italian MP Marcello Coppo said in an interview last Friday that bank foundations should allocate a small portion of their income to digital assets such as Bitcoin to potentially obtain significant returns on investment; the foundation's investment in Bitcoin could stimulate public support for the cryptocurrency, which has long been an object of "excessive distrust" in Italy; we can start from a place where the risk is very low, and any positive test can serve as a case study and example.

Earlier on January 14, it was reported that Italian bank Intesa Sanpaolo purchased 11 BTC for about 1 million euros.