Spain Prepares Sell 13-Year-Old Bitcoin Stash Worth Over $10 Million

Spain's Institute of Technology and Renewable Energies (ITER), a public research institute based in Tenerife, is preparing to sell 97 Bitcoins that it acquired in 2012 for only $10,000 as part of a blockchain experiment. These assets are now valued at over $10 million. The Tenerife Island Council is finalizing the liquidation process through a Spanish financial institution authorized by the Bank of Spain and the National Securities Market Commission (CNMV), ensuring compliance with Spanish financial regulations.

The Bitcoin holdings were never intended as an investment but as a research tool; however, their significant appreciation has created a major financial windfall. The proceeds from the sale will be reinvested into ITER’s upcoming scientific innovation programs, with a specific focus on quantum technologies.

This sale occurs as Spain increases its regulatory oversight of the crypto sector, implementing stricter tax reporting aligned with the EU's MiCA framework. ITER's decision to liquidate through authorized channels reflects the country's cautious stance on digital assets, making this one of the most significant public-sector crypto liquidations in Spain.

(Source：BeInCrypto)