Tenerife Municipality Administration is selling the Bitcoin it acquired in 2012.

Tenerife Municipality's Cryptocurrency Sale

Tenerife municipality plans to sell the 97 Bitcoin it purchased for 10,000 Euros in 2012 for approximately 10 million Euros now. This represents an increase of nearly %10,000 in the value of the cryptocurrency.

ITER (Institute of Technology and Renewable Energies) had acquired these cryptocurrencies to study blockchain technology. The aim was not solely to make a profit but to contribute to research projects. The sale process requires collaboration with a regulated Spanish financial institution.

The revenue generated will be used for ITER's new research projects. Additionally, efforts are planned in areas such as quantum technology.