Испанский институт готовится продать 97 BTC для финансирования новых технологий Translation: Spanish Institute Prepares to Sell 97 BTC to Fund New Technologies

The Institute of Technology and Renewable Energy (ITER) from the Spanish island of Tenerife is in discussions with financial institutions to sell 97 BTC, as reported by Spanish media.

The institution acquired these coins in 2012 for €10,000 as part of its research into blockchain systems. Currently, these assets are valued at approximately €8.5 million.

Juan Jose Martinez, the innovation advisor for Tenerife overseeing ITER, hopes to finalize the deal in the coming months and intends to allocate the proceeds towards projects at the technology center.

Journalists note that this is not the first attempt by the institute to sell its bitcoins. They have been trying to liquidate them for several years, but have encountered challenges due to the high volume of transactions and bureaucratic hurdles.

The island’s government cannot approach European banks, as the vast majority do not accept cryptocurrencies. Additionally, local regulations allow the authorities to engage only with organizations licensed by the Bank of Spain.

However, the situation has changed with the adoption of MiCA and other digital asset legislations. According to Martinez, ITER is in talks with the Spanish financial commission while also completing necessary administrative procedures.

The innovation advisor highlighted that the bitcoins were not intended for investment purposes. They were used to explore the principles of blockchain technology.

«This is one among 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.

In August, prestigious U.S. educational institutions such as Harvard and Brown University reported investments in bitcoin through ETFs.