Bitcoin ATM installed base quadrupled in 2017

The bitcoin ATM market grew at an amazing rate in 2017, more than quadrupling in number over the course of the year, according to data from Statista.

The number of installed machines now exceeds 3,500 and the bitcoin ATM industry is thriving, according to a report by Bitcoinist, the bitcoin ATM industry is thriving.

Manufacturers Genesis Coin and General Bytes currently own the majority share of the market between them, at 60 percent. And continue to tout widening footprints.

It's worth remembering though, that in late Q3 of 2017, bitcoin was beginning a remarkable upward march in value, peaking at nearly $20,000 in mid-December. By the beginning of 2018 it was on a precipitous slide that would claw back two-thirds of that amount by the end of June.

The question now is how ATM installation numbers will look in 2018, as bitcoin makes the slow climb back. Currently, the cryptocurrency is valued at around $7,000.

Topics: ATM Innovation, Bitcoin, Installation / Deployment

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