Tenerife’s ITER Plans to Sell Bitcoin for Research Funding
- The Technological and Renewable Energy Institute (ITER) in Tenerife bought 97 Bitcoin for €10,000 in 2012.
- These Bitcoins have appreciated nearly by a factor of about 1,000x, now valued around $9.8 million.
- The sale proceeds are expected to fund additional research projects, including quantum technology.
- The Council of Tenerife is collaborating with a regulated organization to facilitate the sale.
- Bitcoin was recently trading around $101,000, down from its all-time high above $126,000 in August.
The Council of Tenerife aims to sell its Bitcoin holdings initially acquired as part of a technological experiment by ITER for €10,000 in order to fund further research initiatives such as quantum technology exploration. The sale process involves collaboration with an organization regulated by Spain’s financial authorities.
This move highlights the significant appreciation of Bitcoin over time and its potential role in supporting technological advancements through strategic sales. (Source)
