US crypto ATM operator Bitcoin Depot adds $5m in BTC to treasury

Bitcoin Depot of the Atm Crypto-money-based atm operator in the United States has expanded its Bitcoin holdings, strengthening its commitment to the main digital asset.

According to a February 3 announcementThe listed company has acquired an additional value of $ 5 million in Bitcoin, bringing its total treasure assets to 71.5 BTC, valued at more than $ 7 million depending on the prices at the time of the drafting.

Commenting on the last acquisition, the CEO of Bitcoin Depot, Brandon Mintz, said that he reflected the “longtime belief of the company in Bitcoin as an important financial asset and a value store”. He added that this decision also allows shareholders to benefit from any future price appreciation.

Founded in 2016, Bitcoin Depot is the largest atm operator in cryptocurrency, with 8,213 kiosks installed in the United States, Canada and Puerto Rico, by data de CoinatMradar.

Business went to live On the Nasdaq Stock Exchange in July 2023 under the BTM of Ticker to become the first American company in the cryptographic ATM industry to be made public.

About a year later, in June 2024, the company presented its Bitcoin cash strategy, allocating part of its cash reserves in Bitcoin. Since then, Bitcoin has jumped more than 63% to date.

However, the last purchase of Bitcoin has not yet translated as an upper momentum for Bitcoin Depot shareholders, with BTM down 2.5% on writing day.

Bitcoin Depot joins an increasing number of US companies listed on the stock market adopting a Bitcoin cash strategy, after Microstrategy Direct in the integration of bitcoin as a business reserve ratio.

The American Commercial Intelligence Company was the first company listed on the stock market to have a pioneer the approach in 2020 and has since accumulated more than 471,000 BTC, with its hiding place worth more than $ 46 billion.

Other listed companies in the country which recently added or expanded their BTC holdings include the thermal energy management company Kulr technology groupmanufacturer of medical devices Selmer Scientificantibiotic developer Acurxand bitcoin minor Riot platformsamong others.

The concept has also acquired importance outside the United States, with companies like Singapore Geniuses And Japan Metaplanet Kiss bitcoin as a strategic asset.