Making Bitcoin more accessible to the public. As of January 15th, Costco operates around 624 stores in the U.S., with the highest concentration in California.
Notably, Costco is placing a Bitcoin ATM in every one of its stores across the nation. This move could significantly boost Bitcoin adoption as accessibility improves. Bitcoin ATMs have gained traction over the years, providing an alternative way for crypto enthusiasts to buy and sell digital assets conveniently.
Costco and LibertyX: A User-Friendly Partnership
Costco has partnered with LibertyX to install its Bitcoin ATMs, ensuring a user-friendly experience. Other ATM operators often impose hefty fees and premiums on Bitcoin transactions, but LibertyX aims to offer a more affordable solution. This initiative also benefits the unbanked population, allowing them to purchase Bitcoin without requiring a traditional bank account. While some crypto investors criticize the added costs of Bitcoin ATMs, others view it as a necessary trade-off for convenience.
According to data from Coin ATM Radar, the U.S. leads the world in Bitcoin ATM installations, boasting nearly 30,000 locations. Canada, Australia, Spain, and Poland round out the top five countries, while El Salvador follows closely in sixth place with 215 locations.
Bitcoin ATH Coming Up?
Could this surge in BTC ATM installations contribute to Bitcoin reaching a new all-time high (ATH)? Just 16 days ago, Bitcoin set a record at $109,114.88. To maintain upward momentum, BTC must break past the $100,000 threshold and close the weekly candle above this level to confirm higher price targets.
Markelitics will continue to monitor how Bitcoin ATM expansion impacts crypto adoption and market trends.
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