A Canadian bitcoin investment group by the name BiT Capital has reportedly committed a significant lump of cash into bitcoin ATM start-up BiT Access (who likes to refer to their product as a BTM — a bitcoin teller machine).
That amount is in the neighborhood of $10 million, to be invested in increments in the period of 1-2 years, according to an exclusive by ‘Two Bit Idiot‘ published here.
The total amount committed comes in as one of the largest investments in the bitcoin business industry thus far.
“BiT Capital is thrilled to partner with BiT Access,” said John Bridge of BiT Capital. “We believe Bitcoin ATM’s are a vital part of the infrastructure that will enable people to easily obtain Bitcoin. We are looking forward to working with BiT Access and becoming a dominant player in this segment of the Bitcoin economy.”
We last spoke about Bit Access several days ago, when the Ottawa-based company set up their first BTM at an Ottawa pub. That report indicated that more BTMs would soon be hitting the streets in Toronto, Calgary, Alberta, and outside of Canadian borders in the United States — with a BTM hitting the New York Stock Exchange area in as soon as two weeks.
The company aims to launch their BTMs with vigor — with a goal of installing 300 machines this year alone. In the next three years, BiT Access hopes to have 5,000 machines in service globally. (via The Two-Bit Idiot)
