GLOBAL BITCOIN ATM NETWORK SHRINKS BY 443 MACHINES AMID PRICE DROP
The global Bitcoin ATM network has decreased by 443 machines in the past 40 days, coinciding with a decline in Bitcoin's price. According to Coin ATM Radar, 227 crypto ATMs were removed from the global network in the past 5 days, following a trend of month-on-month increases in net installation.
KEY POINTS:
- COUNTRIES LIKE THE US AND EUROPE ARE LEADING THE DECLINE IN BITCOIN ATMS, WHILE AUSTRALIA, CANADA, AND SPAIN CONTINUE TO EXPAND THEIR NETWORKS.
- FACTORS CONTRIBUTING TO THE DECLINE INCLUDE A GLOBAL CRACKDOWN ON FINANCIAL CRIMES AND THE RECENT DROP IN BITCOIN'S PRICE.
- DESPITE THE DECLINE, BITCOIN DEPOT, A LEADING BITCOIN ATM OPERATOR, REPORTED A 6% INCREASE IN REVENUE IN 2023, ATTRIBUTED TO DIVERSE APPLICATIONS AND SERVICES.
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