In the first two months of 2022, 1,817 crypto Bitcoin ATMs were established around the world. In the same time frame last year, 2,435 crypto ATMs were installed.
Bitcoin (BTC) has reached a number of milestones in the last six months, including widespread adoption in El Salvador, a new all-time high of $69,000, and a network hash rate that is higher than it has ever been. However, compared to the previous year, global Bitcoin ATM installations have slowed for the first time in history in the first two months.
According to data from Coin ATM Radar, the number of Bitcoin ATMs installed in the first two months of the year has traditionally climbed year over year. This year, however, the pattern breaks.
In the first two months of 2022, a total of 1,817 crypto ATMs were deployed around the world. Last year, 2,435 crypto ATMs were installed in the same timeframe, which is 618 more than this year.
Only 760 Bitcoin ATMs were installed in this timeframe in 2020, much outnumbering the 250 ATMs installed in 2019.
The absence of participation from emerging jurisdictions is one of the key reasons for the current downturn. With 1,689 new crypto ATMs installed in 2022, the United States alone accounted for 93 percent of all global crypto ATM installations.
On the other hand, Bitcoin ATMs in Europe were reduced by 1 ATM in the first two months, going down to a total of 1,397 ATMs. At the time of writing, North America represents over 95% of total crypto ATM installations with 34,284 ATMs.
Currently, there are 36,067 ATMs in operation. Despite a sluggish start to the year, crypto ATM deployments are anticipated to increase, with El Salvador planning to install 1,500 Bitcoin ATMs.
As existing crypto-friendly countries reach saturation in terms of installing new crypto and Bitcoin ATMs, it will be difficult to maintain an upward trajectory unless more governments step up their efforts to promote crypto adoption.
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