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The government of Tenerife plans to sell 97 Bitcoins purchased in 2012, expecting a return of 1000 times.
According to Hash Chain News, the government of Tenerife is planning to sell its 97 Bitcoins purchased in 2012, estimating a 1000-fold return. Currently, the expected selling price for this batch of Bitcoins is reaching $10 million, while the initial purchase price was only 10,000 euros. Juan José Martínez, a member of the Tenerife Parliament and head of ITER supervision, revealed that discussions are underway with a Spanish financial institution regarding the purchase. Despite having failed to sell previously due to regulatory hurdles and concerns over the high volatility of the asset, Martínez still hopes to complete the sale in the coming months. The potential buyer has not yet been officially announced, but it is expected to be an institution that has dual certification from the Bank of Spain and the National Securities Market Commission. According to Blockworks researcher Fernando Molina, ITER had been unable to access its wallet for eight years before searching for buyers.
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