Bitcoin ATMs found their way across Costco stores in the United States now that the pro-crypto administration of President Donald Trump has allowed crypto ATM operators to scale their operations. As of January 15th, Costco has around 624 stores in the US with the most stores located in California.
Notably, Costco is putting a Bitcoin ATM across each and every store that it has in the US. This could potentially boost the adoption of BTC as the accessibility of the cryptocurrency improves. Bitcoin ATMs have grown in popularity over the years, offering an alternate route for crypto market participants to buy or sell the digital asset.
Costco and LibertyX: A User-Friendly Partnership
Costco will install LibertyX’s Bitcoin ATMs since other ATM operators are known for adding extra fees and keeping a premium on their BTC. The ATMs will allow even those who are unbanked to purchase Bitcoin. Many crypto investors have complained about the significant charges added on by Bitcoin ATMs, but others say that this is the cost of convenience.
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As per the data provided by Coin ATM Radar, the US ranks first in terms of the number of locations where BTC ATMs have been installed (almost 30,000). Canada, Australia, Spain, and Poland make up the top 5 along with the US, while El Salvador ranks sixth with 215 locations.
Bitcoin ATH Coming Up?
Could this surge in BTC ATM installations lead to the digital gold reaching its ATH? While Bitcoin printed a new all-time high just 16 days ago at a price of $109,114.88, BTC needs to break above $100,000 and close the weekly candle above it to confirm higher prices.
The Bitcoin RSI reads a value of 44.02, which means that bears are currently in control of the leading cryptocurrency’s price action. The gradient of the line suggests stagnation as Bitcoin dropped below the 20-day EMA on the daily chart. In order to resume the uptrend, BTC needs to reclaim the 20-day EMA, which currently stands at $100,728.
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