Spain’s ITER Turns $10K Bitcoin Investment into $10 Million Research Fund

Spain’s Institute of Technology and Renewable Energies (ITER) is preparing to cash in on one of the most remarkable public-sector Bitcoin windfalls in Europe. The Tenerife-based research institute, which purchased 97 Bitcoins in 2012 for just $10,000 as part of a blockchain experiment, now holds digital assets worth over $10 million. The Tenerife Island Council has confirmed that the sale process is nearing completion through a financial institution authorized by both the Bank of Spain and the National Securities Market Commission (CNMV).

According to Tenerife’s innovation councillor, Juan José Martínez, the liquidation will follow all Spanish financial regulations and ensure full transparency. What began as a small-scale blockchain study has evolved into a multimillion-dollar asset that will now fuel future scientific progress. ITER plans to redirect the proceeds into new research initiatives, with a special focus on emerging fields like quantum technologies.

This strategic decision comes amid Spain’s tightening oversight of the cryptocurrency sector. The Spanish government has implemented new tax and disclosure requirements for individuals and institutions under the EU’s Markets in Crypto-Assets (MiCA) framework. These regulations demand full reporting of digital asset holdings and transactions, while companies offering crypto services face stricter supervision from national regulators.

Spain’s proactive regulatory approach follows growing concerns about crypto-related fraud and financial crimes. Earlier this year, authorities dismantled a €540 million cryptocurrency scam that defrauded thousands of European investors. Against this backdrop, ITER’s carefully managed Bitcoin liquidation represents a landmark example of responsible public-sector engagement with digital assets. Once complete, the sale will stand as one of Spain’s largest and most transparent crypto transactions, transforming a decade-old experiment into a powerful driver of innovation and research.