According to Odaily, Bitcoin Depot, which operates over 7,400 Bitcoin ATMs in the United States, has announced its intention to allocate a portion of its cash reserves to Bitcoin. The company explained that this strategy aligns it with other forward-thinking institutions that use Bitcoin as a hedge against inflation and aim to benefit from its potential future value appreciation. Bitcoin Depot emphasized that its Bitcoin purchases will be 'opportunistic' and will not include funds necessary for its operations.
CEO Brandon Mintz stated that this move demonstrates the company's long-standing belief in Bitcoin as a significant financial asset and a store of value. However, the company did not disclose how much of its cash reserves it plans to convert to Bitcoin or whether it has set any specific target ratios for this allocation.
