August 12, 2019 – Atlanta, GA
Bitcoin Depot strengthens their leadership position in the market through acquisition and signals major growth in the cryptocurrency ATM industry
Bitcoin Depot, a cryptocurrency ATM network based in Atlanta, Georgia, has 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 10 existing DFW Bitcoin ATMs are added to the 22 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 of the largest multi-cryptocurrency ATM operators in the world.
Bitcoin Depot has contributed to the growth of the Bitcoin ATM industry by operating nearly 300 Bitcoin ATMs in the United States to date. The company expects to have over 1,000 Bitcoin ATMs deployed by the end of 2020, states Mintz.
“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.