This marks the initial phase of the company’s ambitious plan to deploy and brand 30 Bitcoin ATM kiosks.
Enhancing Cryptocurrency Accessibility Through Strategic Acquisition
In a recent strategic transaction, BULT acquired a portfolio of Bitcoin ATMs, reinforcing its commitment to expanding cryptocurrency offerings and enhancing digital asset accessibility for Georgia residents. The integration of BULT’s IP Portfolio into these Bitcoin ATMs establishes the first licensed Bitcoin ATM network in North America.
BULT’s Chief Executive Officer, Simon Rubin, expressed enthusiasm about being among the few publicly traded Bitcoin ATM companies, emphasizing their dedication to serving the growing demand. Rubin stated, “We are thrilled to be launching and branding the Bullet ATMs to meet the increasing interest in Bitcoin within the diverse communities of the Atlanta, Georgia metropolitan area. Our confidence in the well-reception of Bullet ATMs within the local community aligns with the rising demand for convenient cryptocurrency transactions.”
Bitcoin ATMs Facilitate Seamless Transactions in a Growing Market
Bitcoin ATMs provide a secure, user-friendly, and convenient method for individuals to buy and sell Bitcoin for cash, completing transactions within minutes. Positioned at the intersection of traditional fiat currency and digital assets, these ATMs offer a practical alternative to online exchanges.
Rubin emphasized, “Bullet ATMs cater to both seasoned enthusiasts and newcomers, providing a straightforward avenue for accessing the Bitcoin market, especially for those seeking alternatives to online brokers or exchanges.”
U.S. Bitcoin ATM Growth Reflects Rising Cryptocurrency Adoption
The United States has witnessed a significant surge in Bitcoin ATMs, fueled by the escalating demand for hassle-free cryptocurrency transactions. According to CoinATM Radar, the U.S. currently boasts nearly 27,455 Bitcoin ATMs, with an additional 2,882 located in Canada. The convenience offered by these ATMs is contributing to their popularity as a means for people to access the Bitcoin market.
As the adoption of cryptocurrencies continues its upward trajectory, the future of Bitcoin ATMs in the United States appears promising.
BULT’s Strategic Acquisition Strengthens Intellectual Property Portfolio
BULT’s acquisition of First Bitcoin Capital LLC, with its intellectual property portfolio comprising the rights to two Bitcoin ATM patents, positions the company as the owner and licensor of these valuable assets. These patents, namely US9135787B1 and US10332205B1, are crucial for the operation of Bitcoin ATM networks.
BULT plans to introduce multiple licensing programs for Bitcoin ATM manufacturers, encompassing per-transaction licensing fees, revenue sharing, or partnership programs with Bitcoin ATM owner-operators. In its commitment to safeguarding intellectual property, the company has retained legal representation to target unlicensed Bitcoin ATM operators and manufacturers.
The strategic moves by Bullet Blockchain, Inc. underscore its dedication to meeting the evolving demands of the cryptocurrency landscape, as it continues to innovate and expand its footprint in the rapidly growing market.