{"id":90744,"date":"2025-11-06T20:00:39","date_gmt":"2025-11-06T17:00:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90744"},"modified":"2025-11-06T20:07:12","modified_gmt":"2025-11-06T17:07:12","slug":"spanish-institute-to-sell-97-btc-acquired-13-years-ago","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/spanish-institute-to-sell-97-btc-acquired-13-years-ago\/","title":{"rendered":"Spanish Institute to Sell 97 BTC Acquired 13 Years Ago"},"content":{"rendered":"<p>The Institute of Technology and Renewable Energy (ITER) on the <span data-descr=\"the largest island in the Canary archipelago, belonging to Spain\" class=\"old_tooltip\">island of Tenerife<\/span> is negotiating with financial organizations to sell 97 BTC, according to <a href=\"https:\/\/www.eldia.es\/tenerife\/2025\/11\/03\/cabildo-pone-venta-10-millones-123289427.html\">Spanish media reports<\/a>.<\/p>\n<p>The institution purchased the coins in 2012 for \u20ac10,000 as part of blockchain system research. At the time of writing, these assets are valued at approximately \u20ac8.5 million.<\/p>\n<p>Juan Jos\u00e9 Mart\u00ednez, Tenerife&#8217;s Innovation Advisor overseeing ITER, hopes to finalize the deal in the coming months and allocate the proceeds to the technology center&#8217;s projects.<\/p>\n<p>Journalists note that this is not the institute&#8217;s first attempt to sell the bitcoins. Efforts have been ongoing for several years, hindered by the large transaction volume and bureaucratic procedures.<\/p>\n<p>The island&#8217;s government cannot approach European banks, as the vast majority do not accept cryptocurrency. Meanwhile, local legislation mandates that authorities can only engage with organizations licensed by the Bank of Spain.<\/p>\n<p>However, the situation has changed with the adoption of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-markets-in-crypto-assets-mica\">MiCA<\/a> and other digital asset laws. According to Mart\u00ednez, ITER is negotiating with the Spanish financial commission while completing administrative formalities.<\/p>\n<p>The Innovation Advisor emphasized that the purpose of purchasing bitcoins was not investment. The coins were used to study blockchain principles.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is one of many studies conducted by ITER to understand and experiment with various technological systems,\u201d he explained, adding that the institute is now exploring quantum technologies.<\/p>\n<\/blockquote>\n<p>In August, prestigious U.S. educational institutions\u2014Harvard and Brown University\u2014<a href=\"https:\/\/forklog.com\/en\/news\/us-universities-expand-bitcoin-holdings-via-etfs\">reported<\/a> bitcoin purchases through <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETFs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Institute of Technology and Renewable Energy (ITER) on the island of Tenerife is negotiating with financial organizations to sell 97 BTC. <\/p>\n","protected":false},"author":1,"featured_media":90745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"The Institute of Technology and Renewable Energy on Tenerife plans to sell 97 BTC acquired in 2012.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,741],"class_list":["post-90744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-spain"],"aioseo_notices":[],"amp_enabled":true,"views":"185","promo_type":"1","layout_type":"1","short_excerpt":"The Institute of Technology and Renewable Energy on Tenerife plans to sell 97 BTC acquired in 2012.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90744"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90744\/revisions"}],"predecessor-version":[{"id":90746,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90744\/revisions\/90746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90745"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}