Headline: Испанский институт готовится продать 97 BTC, приобретенные для исследований блокчейна Translation: Spanish institute prepares to sell 97 BTC acquired for blockchain research

The Institute of Technology and Renewable Energy (ITER) on the island of Tenerife is currently engaged in discussions with financial institutions regarding the sale of 97 BTC. Spanish media outlets report this development.

The institution acquired these coins in 2012 for €10,000 as part of a blockchain system research initiative. As of now, these assets are valued at approximately €8.5 million.

Juan José Martinez, the innovation advisor for Tenerife overseeing ITER, expresses the hope that the transaction will be finalized soon, with the proceeds planned for use in projects at the technology center.

Journalists note that this is not ITER’s first attempt to sell Bitcoin. The institution has been working to offload the coins for several years, but has been hindered by the high volume of transactions and bureaucratic procedures.

The island’s government faces challenges in approaching European banks, as the vast majority do not accept cryptocurrency. Additionally, local regulations restrict authorities to transactions with organizations that are licensed by the Bank of Spain.

However, the situation has evolved since the adoption of MiCA and other digital asset regulations. According to Martinez, ITER is negotiating with the Spanish financial commission while also completing the necessary administrative processes.

The innovation advisor emphasized that the intention behind acquiring Bitcoin was not for investment purposes; the coins were used to study the principles of blockchain operation.

«This is just one of many studies conducted by ITER to understand various technological systems and experiment with them,» he explained, adding that the institute is currently exploring quantum technologies.

As a reminder, in August, prestigious U.S. institutions—Harvard and Brown University—reported purchases of Bitcoin through ETFs.