Spanish Research Institute Plans to Sell Bitcoin Holdings Acquired in 2012

According to Foresight News, the Spanish public research institution, the Institute of Technology and Renewable Energy (ITER), is planning to sell its Bitcoin holdings. These Bitcoins, purchased in 2012 for $10,000, are now valued at over $10 million. The institute, which is part of the Tenerife Island Council, initially acquired 97 BTC for blockchain technology research. Juan José Martínez, the Innovation Councilor of Tenerife Island, stated that the council is collaborating with a Spanish financial institution authorized by the Bank of Spain and the National Securities Market Commission. The transaction is expected to be completed in the coming months.