An Italian lawmaker, Marcello Coppo, advocates for banking foundations in Italy to invest in Bitcoin. He believes that such investments could enhance support for the cryptocurrency in the country. Despite this push, Coppo does not expect Italy to create a strategic Bitcoin reserve shortly, especially as the U.S. is making significant progress in this area.
In a recent interview with Criptovaluta, Coppo suggested that banking foundations allocate a small percentage of their income to Bitcoin. This approach could lead to substantial returns on investment. Banking foundations in Italy are organizations that function like banks, using their funds for social, cultural, and philanthropic initiatives.
Coppo pointed out that investing in Bitcoin could help change the negative perception surrounding the cryptocurrency in Italy, which has faced “excessive distrust.” He emphasized starting with low-risk investments and using any positive outcomes as case studies to encourage further adoption.
However, Coppo remains skeptical about the Italian Treasury embracing Bitcoin anytime soon. He noted that while some countries, including the U.S., are moving towards establishing Bitcoin reserves, Italy is not ready for such steps in the immediate future. He stated, “If the USA invests in Bitcoin, it would not be science fiction for any nation to do the same… but I do not see the conditions for this to happen in Italy in a few months.”
This call for investment comes after reports that Italy’s largest bank, Intesa Sanpaolo, purchased $1 million worth of Bitcoin.
