Bitcoin Depot Continues Mission of Bringing Bitcoin to the Masses as Bitcoin Surges Past All-Time High of $100,000

Rhea-AI Summary

Bitcoin Depot (NASDAQ: BTM), North America's largest Bitcoin ATM operator, celebrates Bitcoin surpassing $100,000, marking a historic milestone in cryptocurrency. The company, operating over 8,300 Bitcoin ATM kiosks across North America and Puerto Rico, has achieved significant expansion in 2024, including:

- Extension of BDCheckout Program to six new states
- Expansion into Puerto Rico
- New partnerships with major convenience and grocery retailers

The company emphasizes its role in facilitating crypto adoption through user-friendly access points, enabling cash-to-Bitcoin conversions for payments, transfers, remittances, and investments. This milestone coincides with broader industry developments, including SEC approval of Bitcoin spot ETFs and increased institutional adoption.

Positive

• Market leadership with 8,300+ Bitcoin ATMs across North America
• Geographic expansion into new states and Puerto Rico
• Strategic retail partnerships with major convenience stores
• Benefiting from Bitcoin price surge and growing market adoption

Negative

• None.

Insights

Crypto Market Analyst

Bitcoin's breakthrough to $100,000 marks a pivotal moment that significantly benefits Bitcoin Depot's business model and market position. As North America's largest BTM operator with over 8,300 kiosks, the company is strategically positioned to capitalize on increased mainstream interest and adoption. The SEC's approval of Bitcoin spot ETFs has created a more favorable regulatory environment, potentially driving higher transaction volumes through BTM networks.

The expansion of BDCheckout into new territories and strategic retail partnerships demonstrates strong execution of growth initiatives. With Bitcoin's new milestone driving retail interest, BTM operators are likely to see increased transaction volumes and revenue opportunities. The company's extensive network provides a competitive advantage in capturing new market participants seeking convenient fiat-to-crypto on-ramps.

Financial Technology Analyst

The convergence of Bitcoin's price milestone with Bitcoin Depot's expanding infrastructure creates a compelling growth narrative. The company's strategic focus on accessibility through retail partnerships and geographical expansion positions it well to capitalize on increased mainstream adoption. The BDCheckout Program expansion and entry into Puerto Rico represent significant operational achievements that enhance market penetration.

The timing of these developments, coupled with regulatory clarity and institutional adoption, strengthens Bitcoin Depot's market position. As a NASDAQ-listed company with a substantial BTM network, they're well-positioned to benefit from the growing intersection of traditional finance and cryptocurrency markets. The emphasis on user experience and security addresses key adoption barriers in the crypto space.

ATLANTA, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”) (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today celebrates a landmark moment in the cryptocurrency as Bitcoin surpasses its all-time price peak of $100,000. This industry milestone reflects growing global confidence in Bitcoin as a financial asset and highlights the increasing demand for accessible crypto solutions.

"Bitcoin reaching $100,000 is an example of its resilience, staying power, and growing role in the financial ecosystem," said Brandon Mintz, CEO and founder of Bitcoin Depot. "This moment shows the growing trust millions place in Bitcoin and further establishes Bitcoin Depot’s commitment of 'Bringing Bitcoin to the Masses^®' by providing secure, user-friendly access points that bridge traditional finance and the digital economy."

2024 has been a defining period for the crypto industry, marked by significant advancements such as the U.S. Securities and Exchange Commission's approval of the first Bitcoin spot ETFs and continued growing institutional adoption. These achievements, coupled with increased regulatory clarity and rising global interest in Bitcoin, further demonstrate cryptocurrency's expanding role in the financial landscape.

Bitcoin Depot, with over 8,300 Bitcoin ATM kiosks deployed across North America and Puerto Rico, has cemented itself as a key player in facilitating crypto adoption. As the largest BTM operator in North America, the Company has built significant momentum in the last year, marked by key milestones such as bringing its BDCheckout Program to six new states, expanding into Puerto Rico, and introducing strategic retail partnerships with multiple major convenience and grocery store retailers.

“Bitcoin’s momentum is driving new users to enter the market, and many are choosing BTMs for secure and convenient access to cryptocurrency,” said Scott Buchanan, COO of Bitcoin Depot. “At Bitcoin Depot, we’ve always believed in providing everyone with easy access to Bitcoin, and as we grow, our focus remains on delivering a simple and reliable way to buy Bitcoin quickly and securely. This is just the beginning for the cryptocurrency industry and Bitcoin Depot as a leading provider.”

Bitcoin Depot BTMs are designed to provide a seamless user experience, allowing customers to quickly convert cash into Bitcoin and access the broader digital financial system for payments, transfers, remittances, and investments.

About Bitcoin Depot 
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with approximately 8,486 kiosk locations as of December 05, 2024. Learn more at www.bitcoindepot.com.

Cautionary Note Regarding Forward-Looking Statements
This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, the anticipated effects of the Amendment, and the closing of the Preferred Sale. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "outlook," "plan," "potential," "priorities," "project," "pursue," "seek," "should," "target," "when," "will," "would," or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Contacts: 

Investors  
Cody Slach
Gateway Group, Inc.  
949-574-3860  
BTM@gateway-grp.com 

Media  
Brenlyn Motlagh, Ryan Deloney  
Gateway Group, Inc. 
949-574-3860  
BTM@gateway-grp.com

FAQ

How many Bitcoin ATMs does Bitcoin Depot (BTM) operate in 2024?

Bitcoin Depot operates over 8,300 Bitcoin ATM kiosks across North America and Puerto Rico.

What major expansions did Bitcoin Depot (BTM) announce in 2024?

Bitcoin Depot expanded its BDCheckout Program to six new states, entered the Puerto Rico market, and established new partnerships with major convenience and grocery store retailers.

What services do Bitcoin Depot (BTM) ATMs provide?

Bitcoin Depot ATMs allow customers to convert cash into Bitcoin and access the digital financial system for payments, transfers, remittances, and investments.