An ATM operator, RockItCoin, recently saw a need to improve its operations with more machines, In light of this, the company revealed that it has eventually acquired Tao Bitcoin. This includes all 56 machines of the company.
Based on the transaction, there are nearly 1,900 units of RockItCoin operational machines spread across 44 states of the U.S. The acquisition aims to identify the value of smaller players in the BTC ATM sector. Also, it is to create a bond between these smaller players and regional players.
Tao Bitcoin is a BTC ATM operator situated in the Southern region of the United States. It offers one of the simplest ways to acquire Bitcoin, Ethereum, and other digital tokens.
Interested buyers from the machine will need to create a digital wallet on the platform to store their assets. Afterwards, they’re to sign up and verify their identity. Finally, intending buyers will insert some physical cash into the machine to purchase a token, select their desired token, and input their wallet address.
Chances are that the BTC ATM industry will witness consolidation in the coming year. This is due to the company’s idea to get more players into its system, according to Ben Phillips, president at RockItCoin.
RockItCoin Acquisition Established
Judging from the speech of the founder and CEO of RockItCoin, Michael Dalesandro, the company is not yet content with what it already has. RockItCoin still intends to acquire more machines in the last quarter of 2022. This is necessary as it will enhance their customer service at the different locations.
The company is currently sitting pretty on its recent achievement. It boasts of providing good services to its customers from scratch. Moreover, 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. Former Tao Bitcoin chose to seal the deal with RockItCoin because both parties’ values are relatively close.
RockItCoin Sees A Greater Future
The company believes that it’s in for some more great future. This notion is backed by the possible value of the crypto market in the next five years. According to its forecast, the ATM market would have grown to around $500K.
Moreover, a report also revealed that the market would witness a yearly growth rate of about 59%. This event will take place from the current to 2027, which is also the basis of the company’s forecast. At the time, the value of the crypto ATM market will be around $472 million from its present $46.4 million.
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