A Spanish institute will sell $10,000 worth of bitcoins purchased in 2012 for $10 million.
- The ITER Institute is putting up for sale 97 BTC acquired for scientific research.
- The proceeds from the sale will go towards funding quantum technology projects.
- Secure Bitcoin transactions are being developed in collaboration with regulators and banks.
Spain's state-run research institute, ITER, is preparing to sell bitcoins currently worth over $10 million. The 97 BTC were purchased in 2012 for just $10,000 as part of an experimental project to study blockchain technology, according to local media.
The institution, which reports to the Tenerife Island Council, is finalising preparations for the sale of its assets in conjunction with a financial institution authorised by the Bank of Spain and the National Securities Market Commission (CNMV).
Tenerife Innovation Advisor Juan José Martínez noted that most European banks still avoid working with cryptocurrency. This is due to regulatory and volatility risks, which complicate the transaction process.
The proceeds will be used to finance ITER research projects in quantum technologies. Martinez emphasized that the purchase of bitcoins in 2012 was not considered an investment, but rather part of an experimental project to study blockchain infrastructure.
“This was one of ITER's many research projects aimed at studying and experimenting with new technological systems,” he added.
With the current asset price of around $103,000, the institute's assets are worth around $10 million. At the beginning of October 2025, their price reached $12 million.
Meanwhile, Spanish banking giant BBVA has partnered with Binance, becoming an independent custodian for client funds. The deal allows platform users to deposit assets backed by US Treasury bonds held by BBVA.
According to the companies, this creates a safer environment for working with cryptocurrency.
As a reminder, we wrote that BBVA is integrating Ripple Labs' solution for storing digital assets.
Source: cryptonews.net
