Coinme CEO Neil Bergquist’s Projections for a Bitcoin ATM Market That Could Top $16 Billion Within the Next Decade
The post Coinme CEO Neil Bergquist’s Projections for a Bitcoin ATM Market That Could Top $16 Billion Within the Next Decade appeared on BitcoinEthereumNews.com.
In the past year alone, Coin ATM Radar reports that the number of cryptocurrency ATMs worldwide has surged by 17.8%, reaching a total of 38,279 machines. This growth spurt, following a challenging period that saw a net loss of 2,861 machines in 2023, signals a robust recovery and renewed interest in these physical gateways to the digital currency world. With 2,564 new cryptocurrency ATMs installed in 2024 so far, the industry is inching closer to its December 2022 peak of 39,541 machines. Neil Bergquist, CEO of crypto exchange Coinme, sees this resurgence as just the beginning. “The bitcoin ATM market is projected to grow to $16.85 billion by 2033,” Bergquist noted in a recent article. Bitcoin ATM Growth by the Numbers The U.S. dominates the global bitcoin ATM landscape, hosting over 82% of all machines worldwide. Canada comes in a distant second at 7.7%. This concentration in North America underscores the region’s appetite for accessible cryptocurrency services. “There is a Coinme location within roughly 5 miles for 90% of the American population,” says Bergquist. This level of accessibility surpasses even traditional banking networks in terms of physical presence. But it’s not just about quantity. The strategic placement of these bitcoin ATMs is equally important, and Coinme has focused on crypto-enabling familiar and existing kiosks run by Coinstar rather than building out a network of new machines. The rise of crypto ATMs is also starting to spread internationally. Australia, for instance, has seen the number of machines increase nearly seventeenfold to 1,107 over the past two years. At this rate, Australia is poised to overtake Europe’s total of 1,584 crypto ATMs in the near future. Bergquist, whose company Coinme operates one of the largest crypto cash exchange networks in the U.S., has been riding this wave since 2014. “When we got…
Filed under: News - @ November 9, 2024 2:21 pm