A Most Profitable Oversight! 🤑 Spanish Institute’s Bitcoin Folly Unveiled!

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In a tale most extraordinary, a Spanish public research institute, long since forgotten the whereabouts of its 97 Bitcoins, now finds itself in possession of a treasure trove worth over ten million dollars, all from a mere ten thousand spent in 2012. One might suppose the council’s archivists have been indulging in a most egregious oversight, or perhaps a delightful game of hide-and-seek with their own fiscal acumen.

The esteemed Institute of Technology and Renewable Energies (ITER), under the watchful eye of the Tenerife Island Council, acquired these digital coins over a decade past, not for the purpose of enrichment, but to study blockchain, that curious amalgam of mathematics and modernity. Now, as per the esteemed El Día, the council is finalizing plans to divest these holdings, much to the chagrin of any who might have invested in a less… whimsical venture.

Mr. Juan José Martínez, Tenerife’s innovation councillor, has kindly disclosed that the council is collaborating with a Spanish financial institution, authorized by the Bank of Spain and the National Securities Market Commission (CNMV), to facilitate the sale. One might imagine the bank’s clerks quaking in their boots at the prospect of handling such volatile assets, though the council’s choice of partners seems as prudent as a gentleman choosing a dance partner at Netherfield.

Most European banks, with their prudish aversion to risk, still refuse to dabble in Bitcoin transactions, leaving the institute to navigate this labyrinthine process with the grace of a debutante at her first ball. A most peculiar aversion to innovation, one must say.

Tenerife Council to Reinvest Proceeds into Quantum Research

Martínez, ever the optimist, assures us the transaction shall be concluded within the coming months, with the proceeds destined for ITER’s research programs, including the lofty pursuit of quantum technologies. One imagines the institute’s researchers will now wield their quantum microscopes with the same fervor as they once did their blockchain studies, though perhaps with fewer instances of digital gold being misplaced in the pantry.

“It was one of the numerous research projects ITER has undertaken to explore and experiment with new technological systems,” Martínez declared, as if to absolve the council of any guilt in their decade-long neglect.

With BTC trading at a princely sum of $103,200, the institute’s stash is now worth over ten million, a figure that would have made Mr. Darcy himself blush. In early October, when Bitcoin reached its zenith at $126,198, the stash soared to $12 million, according to the estimable CoinMarketCap. One wonders if the council’s ledger books have yet caught up to the times-or if they still record transactions in quills and parchment.

Spanish Bank Giant BBVA Partners with Binance to Custody User Funds

In a most surprising turn, the Spanish banking giant BBVA has partnered with Binance to serve as an independent custodian for customer funds. The deal, which allows Binance users to custody assets backed by US Treasurys held at BBVA, seems as logical as a fox guarding a henhouse-though one must commend the parties for their audacity.

This alliance followed BBVA’s recent counsel to its wealthy clients to invest between 3% and 7% of their portfolios in crypto and Bitcoin. A most daring recommendation, one might say, though perhaps the bank’s executives have finally abandoned their 18th-century aversion to risk and embraced the digital age-with a dash of caution, of course.

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2025-11-06 15:13