Bitcoin (BTC) News – Can the amount of Bitcoin (BTC) dispensed through global ATM’s reach $145 million by 2023?

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The adoption of cryptocurrency is growing at a pretty rapid pace. When you look at the CAGR at which the demand for Bitcoin ATMs expanded, it well over 50% on a five-year basis. This is exponential growth.

Recently, a study was conducted by MarketsandMarkets which is a research firm. The study concluded that the growth rate for Bitcoin ATMs between 2018 to 2023 will be 54.7%. As a result, by 2023, the amount of money which will be dispensed through Bitcoin ATMs will be around $ 145 million.

The total number of Bitcoin ATMs currently is around 3650. This number is growing on a month on month basis. This is one of the main reasons why awareness about Bitcoin (BTC) is also growing at a pretty rapid pace. The ATM market currently will be worth around $ 16.3 million by the end of this year. Last year, it was worth of around just $ 6.8 million. This is a clear indication that it is actually growing at a pretty rapid pace.

2 way ATMs:

Contrary to the popular belief, Bitcoin (BTC) ATMs are useful for buying as well as selling. They are two-way ATMs. Even though, some of the initial ones are just for you to buy the Bitcoin is but the latest ones allow you to buy as well as sell. The growth rate of the 2 way ATMs is even higher.

The largest market:

The largest market for Bitcoin ATMs will be North America. It will be able to retain his position throughout. Approximately 73% of the Bitcoin ATMs around the world are placed in North America. This number is slated to remain constant in spite of the huge growth in the growth of Bitcoin ATMs. This is because more and more people are becoming aware of Bitcoins on the North American continent. Moreover, the number of investors is growing at a rapid pace. Bitcoin ATMs are the easiest ways for these investors to buy the cryptocurrency. That is why the demand, as well as the actual usage of the Bitcoin ATMs, is also growing at a rapid pace. This is one of the main reasons why North America will surely be at the forefront when it comes to the growth of the Bitcoin ATMs.

With Bitcoin (BTC) emerging as an alternative to gold, the demand for Bitcoin will increase significantly. Moreover, Bitcoin ATMs are the most accessible way to buy Bitcoins. That is why there will be a jump  in the number of Bitcoin ATMs being installed globally.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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