Bullet Blockchain, a software development and SaaS company specializing in blockchain technologies, has completed a strategic transaction to acquire a fleet of Bitcoin ATMs. With its ownership of two Bitcoin ATM patents, Bullet Blockchain is now the first licensed Bitcoin ATM network in North America.
Bitcoin ATMs have experienced significant growth in the United States and Canada, driven by the increasing demand for convenient cryptocurrency transactions. In fact, there were nearly 31,000 Bitcoin ATMs in the United States and nearly 2,800 in Canada at the time of this announcement. Bullet Blockchain plans to license its patented technology to other Bitcoin ATM operators and manufacturers in North America.
The CEO of Bullet Blockchain, Simon Rubin, commented on the company’s excitement to be one of the few publicly traded Bitcoin ATM companies and the potential of its Bullet ATMs to provide a convenient and easy way for people to get involved in the rapidly growing asset class of Bitcoin. He also highlighted the Atlanta Georgia metropolitan area as a great market for the Bullet ATMs due to its large and diverse population with a high interest in Bitcoin.
Bitcoin ATMs allow users to buy and sell Bitcoin for cash through a free-standing kiosk similar in size to a traditional ATM. The process is simple, secure, and typically takes only a few minutes to complete. These machines bridge the gap between traditional fiat currency and digital assets, providing individuals with a seamless on-ramp to the Bitcoin market.
Bullet ATMs are seen as a reasonable alternative to online exchanges, offering accessibility and attracting both seasoned crypto enthusiasts and newcomers to the space. As more people recognize the potential of Bitcoin and seek to participate in the market, the importance of accessible on-ramps like Bitcoin ATMs becomes crucial.
Headquartered in Reno, Nevada, Bullet Blockchain is committed to driving innovation in blockchain-related platforms through digital technology and decentralized solutions. The company aims to shape the future of digital and blockchain technologies while delivering rapid growth and increasing shareholder value.