The Tenerife Council is set to sell 97 bitcoins, initially purchased in 2012 for €10,000, now valued at nearly €10 million. The investment was made by the Instituto Tecnológico y de Energías Renovables (ITER) to explore blockchain technology. The council is in talks with a Spanish financial entity regulated by the Bank of Spain and CNMV to facilitate the sale, following refusals from local banks. Proceeds from the sale will support new research initiatives at ITER, including quantum technology projects.