Bitcoin Depot strengthens their leadership position in the market through acquisition and signals major growth in the cryptocurrency ATM industry.
ATLANTA, GA, AUGUST 14, 2019: Bitcoin Depot, a cryptocurrency ATM network based in Atlanta, Georgia, today announced the acquisition of a competitor, DFW Bitcoin. The acquisition of a major Bitcoin ATM operator signals continued strong growth in the industry, in line with expert projections forecasting an annual compound growth rate of 46.61 percent by 2024.
“Our acquisition of DFW Bitcoin is exciting news for both Bitcoin Depot and the Bitcoin ATM industry at large,” says Brandon Mintz, CEO of Bitcoin Depot. “The ten existing DFW Bitcoin ATMs are added to the twenty-two Bitcoin Depot ATMs already located across Texas, strengthening our network, our position in the market, and supporting the evidence for major growth in the industry projected by experts.”
“The acquisition also demonstrates that Bitcoin Depot has the buying power to acquire smaller Bitcoin ATM operators who may be struggling,” continues Mintz.
Bitcoin ATMs, or Bitcoin kiosks, are a rapidly growing industry due to the increased demand for cash to cryptocurrency transactions. Bitcoin ATMs are crucial for the acceptance and adoption of cryptocurrencies due to its vital connection between underbanked communities and the crypto world. Bitcoin Depot ATMs allow users to buy and sell Bitcoin, Litecoin, Ethereum and Bitcoin Cash instantly at hundreds of locations across the United States. Transactions are quick, easy and secure. Bitcoin Depot is one the largest multi-cryptocurrency ATM operator in the world.
“Bitcoin Depot has contributed to the growth of the cryptocurrency ATM industry by installing over 40 percent of all Bitcoin ATMs in the United States,” states Mintz, “As of early 2019, we accounted for one-third of all Bitcoin ATM installations around the world.”
“We believe installing and acquiring more Bitcoin ATMs that allow the public to quickly and securely purchase cryptocurrencies will continue to increase adoption in the near future and beyond, creating a larger market for expansion. In short, we’re continuing to grow the industry and further strengthen our network over the coming months and years.” Mintz concludes.
For more information on Bitcoin Depot, or to locate a Bitcoin ATM near you, please visit: www.bitcoindepot.com
About Bitcoin Depot
Bitcoin Depot is a cryptocurrency ATM network based in Atlanta, Georgia, and is the fastest growing multi-cryptocurrency ATM network in the world. Bitcoin Depot’s mission is to provide the most secure, convenient, customer-service-oriented and fastest cryptocurrency transactions, ultimately opening up the cryptocurrency market to the masses. The 250-plus strong network of cryptocurrency ATMs enables users to buy and sell Bitcoin, Litecoin, Ethereum and Bitcoin Cash instantly at hundreds of locations across the United States. Learn more at www.bitcoindepot.com.
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