Installs of cryptocurrency ATMs decreased in 2023, but according to Bitcoin Depot CEO Brandon Mintz, a post-halving surge in Bitcoin prices should see a recovery in the market. According to the CEO of a significant Bitcoin ATM operator, the number of Bitcoin ATM installations would probably increase globally following the Bitcoin halving, when cryptocurrency FOMO (fear of missing out) usually reaches a fever pitch. Installs of cryptocurrency ATMs saw their first annual decrease in ten years in 2023, most likely as a result of a bear market made worse by the failure of many cryptocurrency companies.
Crypto Adoption Spikes, Especially During FOMO Moment, Begins To Develop
But according to CEO of Bitcoin Depot Brandon Mintz, 2024 is off to a great start, with 1,469 cryptocurrencies ATMs installed in the first three months of the year, compared to nearly 3,000 removed by the same period in 2023, based on data from CoinATMRadar.
CEO of Bitcoin Depot Brandon Mintz told Cointelegraph, “It’s looking positive that the industry continues to see a lot of growth in kiosk count.” Bitcoin BTC tickers are back in swing, having smashed its all-time high in March twice already, and Mintz is now projecting an industry-wide ATM comeback. According to Mintz, cryptocurrency adoption spikes later in the cycle, particularly during the FOMO moment that begins to develop, and this attracts more consumers during previous bull markets.
