Bitcoin’s impressive Bull Run this year has been matched with an increase in the number of Bitcoin ATMs across the globe. Since the beginning of the year, the number of Bitcoin terminals has increased by 20%.
Compared with this same time last year, the number of Bitcoin ATM installations worldwide has more than doubled according to data from Coin ATM Radar. The total number of Bitcoin ATMs around the world currently sits at 17,170, which is about 2.5 times more than what it was at the start of 2020.
Source: Coin ATM RadarThe increase in the number of Bitcoin ATMs may not be unconnected with the massive media attention the leading cryptocurrency has received in the past few months. Since mid-last year, Bitcoin has welcomed several institutional players, including MicroStrategy and Tesla (NASDAQ:TSLA). The digital asset has been repeatedly called a possible store of value in the same league as gold. Furthermore, between December 2020 and March 2021, the flagship currency has risen from $20,000 to over $60,000.
Source: Coin ATM RadarSpeaking of the distribution of these Bitcoin ATMs, the U.S. is currently leading the list with more than 14,500 locations. The U.S. is home to over 80% of all Bitcoin ATMs. According to the data, Europe is also growing. Surprisingly, despite being a formidable Bitcoin stronghold, Asia account for a little over 1% of all Bitcoin ATMs.