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Crypto ATM company Bitstop announced that it has partnered with Simon Mall – one of the largest mall operators in the United States – to install more machines in a bid for further exposure.
The locations where these five new machines have been stalled are in Miami International Mall in Miami, FL; Sawgrass Mills in Sunrise, FL; The Avenues in Jacksonville, FL; Mall of Georgia in Buford, GA; and Carlsbad Premium Outlets in Carlsbad Premium Outlets in Carlsbad, CA.
With these additions, Bitstop has pushed its ATM count to 130. Bitstop co-founder and CEO Andrew Barnard said that these installations have been specifically timed to coincide with the holiday season where people tend to visit malls and shop for gifts.
“With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin while doing their Black Friday and Christmas holiday shopping. Bitcoin is the perfect gift for family and friends this holiday season. Our Bitstop Bitcoin ATM mall locations are at the forefront of a trend as Bitcoin and digital currencies become part of the mainstream culture,” Barnard said.
ATMs can solidify Bitcoin’s position
The move comes more than a month after Bitstop announced that it placed a Crypto ATM at the Miami International Airport. Barnard previously said that these expansions will help solidify bitcoin’s place in the future as they may associate the ATM’s physical existence to the strong position of the cryptocurrency, CoinDesk reported.
Bitstop said that it aims to add more ATMs at various locations and is targeting 500 machine installations by the end of 2020. Despite the company’s efforts, however, it’s still lagging behind the competition. LibertyX has already installed more than 1,000 machines in various locations and is continuing to spread its influence across the country.
Bitcoin ATM industry is booming
As for the overall industry, it’s estimated that there are 10 crypto machines that are being installed on a daily average. The entire ATM count is now sitting on 6,000 and it’s projected it’ll reach 10,000 by the end of 2020.
Meanwhile, Bitcoin is still struggling to climb to the $8,000 level after falling from its previous $9,000 position. A few weeks ago, Bitcoin fell down the $9,000 level and landed on the $6,000 mark. But it has slowly climbed its way again and is currently changing hands at $7,500.
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