Michaela
Spain’s Institute of Technology and Renewable Energies (ITER) is preparing to liquidate a Bitcoin (BTC) reserve valued at more than $10 million, originally acquired in 2012 for an early blockchain research initiative.
Key points:
- Spain’s ITER plans to sell 97 BTC, originally bought for €10,000 in 2012, now worth over $9.9 million, to fund quantum research initiatives.
- The sale will be coordinated with a licensed Spanish financial institution, ensuring compliance with the Bank of Spain and CNMV regulations.
- ITER’s move spotlights the growing use of cryptocurrencies in public research funding, turning long-held digital assets into practical resources for scientific innovation.
In 2012, researchers acquired 97 BTC for a blockchain study, paying roughly 10,000 euros. The ITER, overseen by the Tenerife Island Council, is now planning to sell the holdings to support quantum research initiatives. Juan José Martínez, Tenerife’s innovation councillor, told El Día that the council is coordinating with a Spanish financial institution licensed by the Bank of Spain and the National Securities Market Commission (CNMV) to manage the transaction.
The sale is anticipated to conclude within the next few months, with funds slated to support ITER’s research initiatives, including quantum technology programs. Martínez emphasized that the 2012 Bitcoin acquisition was never intended as an investment, but rather as part of an experimental project to explore and understand blockchain technology.
As of this writing, Bitcoin trades at $102,366, putting the value of ITER’s 97 BTC holdings at over $9.9 million. In early October, when Bitcoin hit an all-time high of roughly $126,198, the same stash would have been worth more than $12 million.
ITER’s planned Bitcoin sale spotlights the growing role of digital assets in funding public research. The move comes amid increasing interest in how cryptocurrencies can support scientific programs beyond traditional funding channels.
By selling long-held BTC, ITER could open new avenues for investing in emerging technologies, including quantum research, while demonstrating a novel approach to asset management for public institutions. The sale has the potential to prompt other research organizations to consider similar strategies, turning digital holdings into practical resources for innovation.
As governments and institutions explore the potential of crypto, ITER’s decision signals a shift toward integrating digital assets into broader scientific and financial planning, illustrating how blockchain experimentation can evolve into tangible contributions to research and development. The outcome of this transaction could influence future policies and practices for public sector engagement with cryptocurrencies.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
