Over 1,500 Bitcoin ATMs to be deployed in Argentina in response to rampant inflation

posted 12 days ago
According to representatives from Athena Bitcoin and Odyssey Group, by the end of 2018 Argentina will be host to 30 Bitcoin ATMs. That number will jump to about 150 in Q1 2019, and to more than 1,500 by the end of 2019. This crypto expansion into the South American country comes amid an economic crisis that has seen the value of it’s national currency, the peso, sink dramatically.

US based Athena Bitcoin, a company that specializes in the development and operation of cryptocurrency ATMs, launched Argentina’s first just a month ago in Buenos Aires. Argentina is an ideal location for Bitcoin ATMs because inflation of it’s national currency — which has lost more than 50% of its value against the dollar so far in 2018 — is expected to exceed 40% by year’s end. Athena Bitcoin’s operations manager for Argentina, Dante Galeazzi, said from their perspective, this unfortunate economic situation presents a massive growth opportunity for the cryptocurrency industry.
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