RockItCoin acquires Toa Bitcoin which houses over 50 ATMs across the US
An ATM operator, RockItCoin, recently saw a need to improve operations with more machines. In light of this, the company revealed that it has eventually acquired Tao Bitcoin. This includes all 56 machines in the company.
Based on the transaction, there are nearly 1,900 units of RockItCoin operating machines spread across 44 states in the United States. The acquisition aims to identify the value of smaller players in the BTC ATM sector. It is also to create a bond between these smaller players and regional players.
Tao Bitcoin is a BTC ATM operator located in the southern region of the United States. It offers one of the easiest ways to acquire Bitcoin, Ethereum and other digital tokens.
Interested buyers from the machine must create a digital wallet on the platform to store their assets. Afterwards, they must register and confirm their identity. Finally, intended buyers will deposit some physical cash into the machine to purchase a token, select the desired token, and enter their wallet address.
Chances are that the BTC ATM industry will witness consolidation in the coming year. This is because of the company’s idea to get more players into its system, according to Ben Phillips, president of RockItCoin.
RockItCoin acquisition established
From the speech of the founder and CEO of RockItCoin, Michael Dalesandro, the company is not yet satisfied with what it already has. RockItCoin still intends to acquire more machines in the last quarter of 2022. This is necessary as it will improve their customer service at the various locations.
The company is currently sitting pretty on its last performance. It prides itself on delivering good services to its customers from scratch. Also, the company plans to establish its recent ATM acquisition. It revealed that it would rebrand the former Tao Bitcoin ATMs with the name, RockItCoin locations in a few weeks.
The former Tao Bitcoin, founded in 2016 by Andrew Arterburn and John Taylor, had received several requests to sell the machines. But for some reason they held back until RockItCoin came into the picture. Previously, Tao Bitcoin chose to seal the deal with RockItCoin because both parties’ values are relatively close.
RockItCoin sees a bigger future
The company believes that another great future lies ahead. This idea is supported by the possible value of the crypto market in the next five years. According to the forecast, the ATM market would have grown to around $500,000.
Moreover, a report also revealed that the market would witness an annual growth rate of around 59%. This event will take place from now until 2027, which is also the basis for the company’s forecast. At that point, the value of the crypto-ATM market will be around $472 million from today’s $46.4 million.
Featured Image From Pixabay, Charts From Tradingview
