๐พ๐ง๐ฎ๐ฅ๐ฉ๐ค ๐ผ๐๐ ๐๐๐ง๐ข ๐จ๐๐ฎ๐จ ๐ง๐๐ซ๐๐ฃ๐ช๐ ๐ช๐ฃ๐๐๐๐๐๐ฉ๐๐ ๐๐ฎ ๐๐ก๐ช๐๐ฉ๐ช๐๐ฉ๐๐ค๐ฃ๐จ ๐๐ฃ ๐ฝ๐๐พ ๐ฅ๐ง๐๐๐
Bitcoin Depot says its revenues are independent of Bitcoinโs volatility as the firm maintains a โrelatively low balanceโ of BTC.
The high volatility of cryptocurrency prices has had little to no effect on some major players in the industry, including Bitcoin Depot, a Bitcoinย BTC๐ป$63,142 ATM operator.
Bitcoin Depot, theย biggest ATM operator in the United States, has recorded no correlation between its revenues and the price of Bitcoin historically, the firmย statedย in its 10-K annual report filed on April 15.
The companyโs revenues in 2023 and 2022, $689 million and $647 million, respectively, have not been correlated to the price of Bitcoin, even in light of volatile Bitcoin prices.
While Bitcoin surged 155% in 2023, Bitcoin Depotโs year-over-year revenue growth amounted to just 6%, the company stated.
