A public research center in Tenerife is preparing to sell a stash of Bitcoin it bought more than a decade ago — a holding that has grown from a modest experiment into a multi-million dollar pot.
The numbers are stark. Buying 97 Bitcoin for roughly €10,000 in 2012 and selling them now at market levels would mean a return measured in the thousands of percent. Exact figures will depend on the final sale price and exchange rates used on the day the coins move. Tax and legal costs could also affect the net amount the institute receives.
Council members and ITER representatives have given short statements to local press about the plan, noting that the original purpose was research rather than investment. Reports indicate officials are coordinating with legal and financial advisers to make sure the disposal meets Spanish rules around public funds and asset sales. The aim is to avoid any misstep that might delay the cashing-out.
Featured image from Unsplash, chart from TradingView
