𝘾𝙧𝙮𝙥𝙩𝙤 𝘼𝙏𝙈 𝙛𝙞𝙧𝙢 𝙨𝙖𝙮𝙨 𝙧𝙚𝙫𝙚𝙣𝙪𝙚 𝙪𝙣𝙖𝙛𝙛𝙚𝙘𝙩𝙚𝙙 𝙗𝙮 𝙛𝙡𝙪𝙘𝙩𝙪𝙖𝙩𝙞𝙤𝙣𝙨 𝙞𝙣 𝘽𝙏𝘾 𝙥𝙧𝙞𝙘𝙚
Bitcoin Depot says its revenues are independent of Bitcoin’s volatility as the firm maintains a “relatively low balance” 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 Bitcoin BTC🔻$63,142 ATM operator.
Bitcoin Depot, the biggest ATM operator in the United States, has recorded no correlation between its revenues and the price of Bitcoin historically, the firm stated in its 10-K annual report filed on April 15.
The company’s 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 Depot’s year-over-year revenue growth amounted to just 6%, the company stated.
