Elon said that Bitcoin is on the verge of widescale acceptance and we can see why. On 10th February the Blue Ridge bank became the first to announce to allow users to buy Bitcoin from ATMs. This is a big development for Bitcoin as now even banks are coming around to accept the cryptocurrency. Banks allowing the purchase and use of Bitcoin, sounds like a dream, right? Well, it was already speculated that like 2020 became the year of institutional acceptance of Bitcoin, this is the year for Banks. And the journey has already begun.
Now you can buy Bitcoin from Blue Ridge bank ATMs
The CEO of the bank said that Blue Ridge bank would continue the evolution to serve the needs of its customers. Presently, the bank has made the Bitcoin purchasing option available on 19 different ATM locations, including branch and non-branch ATMs. The CEO also said that Bitcoin buying option on its ATMs is just an additional option to show commitment towards the future of banking. For proving this option, the bank has partnered up with BluePoint ATM solutions and LibertyX for Bitcoin ATM software.
The CEO of BluePoint ATM also said that they are glad to partner up with BlueRidge bank. And they too believe that this is just the beginning of the change in the fintech industry that we all were looking for. Soon we can also expect other banks to start offering Bitcoin buying services. At the same time, even LivertyX expressed their pleasure on being able to work with Blue Ridge bank. They are also glad that now people will be able to buy Bitcoin from ATMs, an option they were waiting for from years.
Nothing can beat the fact that we are in a time where we can purchase a current that found be worth 10 times in a few years. We are already seeing the changes. Banks are starting accepting Bitcoin and giving purchase power to customers; Institutions are poring Billions of dollars of their funds in the currency, and governments are packing for obvious reasons. The price of the cryptocurrency has grown over 12 times over the last year, and now the sky is the limit.
There will be ups and downs along the road, but in the long run, there are no downs. The cryptocurrency’s fundamental nature is such that if it gets widely accepted its price has to skyrocket and no bank or government can stop that. It is important for investors though to hold tight and not exit the market seeing a few red candle sticks because when the big blue one comes you would want to be there.
What are your thoughts on the strong decision made by blue Ridge bank to allow Bitcoin purchases from its ATMs? Let us know in the comments below. And do tell us if you are going to invest in the cryptocurrency or already have. If you found our content informative do like and share it with your friends.