Bitcoin ATMs Taking a Dip! Global Numbers Plunge to Lowest Point since 2021

Worldwide Bitcoin ATM Count Drops to Lowest Point in 2021

Oh, bitcoin ATMs, how the mighty have fallen! According to data from AltIndex, these futuristic cash-grabbing machines have hit a two-year low in installations. Ouch, buddy!

Just take a look at the numbers: since the end of last year, a whopping 7,000 ATMs have disappeared into the abyss, leaving us with a measly 32,500 worldwide. Talk about a disappearing act!

But the real kicker is the US, the land of dreams and opportunities, losing the most machines. They’ve gone from a staggering 34,500 to a paltry 26,700! Oh, the pain!

Meanwhile, over in Europe, our friends are chilling with a modest 1,500 ATMs. It’s like comparing a skyscraper to a rustic cottage. Awkward!

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So, what’s causing this cascade of bitcoin ATM doom? Well, according to AltIndex, it’s all about controversies and criminals. Turns out, some scammers are pulling off vanishing acts like Houdini. They advertise goods on platforms like eBay, ask for payments into a specific bitcoin wallet at an ATM, and then poof! Money gone, scammers gone.

But fear not, my digital asset adventurers, for there’s a silver lining in this cryptocurrency storm! Brandon Mintz, the CEO and founder of publicly traded bitcoin ATM operator Bitcoin Depot (BTM), has emerged from the shadows to shed some light.

In his own words, Mintz believes the decline in ATMs is simply a case of operators turning off unprofitable machines or closing shop altogether. It’s like shutting down an empty lemonade stand on a rainy day.

But for Bitcoin Depot, this is an opportunity as rare as finding a unicorn in your backyard. They see a chance to increase their market share by swooping in and acquiring those abandoned machines. Talk about taking advantage of a crisis!

So, fellow crypto enthusiasts, don’t despair! While the number of bitcoin ATMs may be at an all-time low, there’s still hope for a comeback. Maybe one day, bitcoin ATMs will rise from the ashes like a phoenix and reclaim their glory!

Read More: CEO of World’s Largest Bitcoin ATM Operator Sees Industry Ripe for Consolidation

Edited by Sheldon Reback. Now, let’s grab a digital pickaxe and mine into the future!

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