In 2012, researchers bought 97 BTC for a blockchain study. Thirteen years later, they are selling the stock to fund quantum research projects.
A Spanish public research institute is preparing to sell a long-forgotten stash of Bitcoin worth over $10 million that was bought for just $10,000 in 2012 as part of a blockchain research project.
The Institute of Technology and Renewable Energy (ITER), which is overseen by the Council of the Island of Tenerife, bought 97 Bitcoins (BTC) more than ten years ago to study blockchain technology. The council is now finalizing plans to release the stake, according to to a report by the Spanish-language newspaper El Día.
Juan José Martínez, Tenerife’s councilor for innovation, told the publication that the council is working with a Spanish financial institution authorized by the Bank of Spain and the National Securities Market Commission (CNMV) to facilitate the sale.
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