Researchers Turn $10k Bitcoin Purchase into $10M Stash – But Selling It Is a Major Hurdle

A Spanish public research institute is facing unexpected challenges as it prepares to sell a long-forgotten Bitcoin stash now worth over $10 million, originally purchased for just $10,000 more than a decade ago. The Institute of Technology and Renewable Energies (ITER), a public body overseen by the Tenerife Island Council, bought 97 Bitcoin in 2012 as part of an experimental blockchain research project. At the time, Bitcoin traded at roughly $100 per coin. Thirteen years later, with Bitcoin hovering near $103,200, that modest research expense has turned into a multimillion-dollar windfall. Can Spain’s Public Sector Sell Its Bitcoin Under MiCA? According to the Spanish newspaper El Día, the Tenerife council is finalizing plans to divest the holdings but faces major logistical and regulatory complications. Most European banks still refuse to handle Bitcoin transactions, citing volatility and strict compliance requirements. Juan José Martínez, Tenerife’s councillor for innovation, said the council is...

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