Spanish Research Institution Announces It Will Sell Bitcoins Purchased in 2012! "We Didn't Buy It for Investment Anyway!"
2025-11-06 22:25
A public research institution in Spain announced plans to sell Bitcoins it purchased for research in 2012. Accordingly, the Institute of Technology and Renewable Energies (ITER), under the supervision of the Tenerife Island Council, announced that it would sell 97 Bitcoins, which it purchased for $10,000 in 2012 for blockchain research. It is expected to earn approximately $10 million in revenue in exchange for these BTCs. Tenerife innovation consultant Juan José Martínez said in an official statement that they worked with a Spanish financial institution authorized by the Bank of Spain and the National Securities Market Commission (CNMV) to facilitate the sale of BTC. Martínez stated that the transaction is expected to be completed in the coming months and that the proceeds will be used to finance ITER's own ongoing research projects, including quantum technologies. Stating that the purchase in 2012 was never considered an investment, Martínez stated that the...
