While Bitcoin ATMs continue to grow worldwide, growth slowed in the later part of 2022. In fact, only 94 were installed from July to December 2022, compared to 4,169 in the first half of 2022, according to a report by CoinTelegraph.
Factors that led to the slowdown include geopolitical tensions and inflation. However, in 2023, Australia moved forward to become the fourth biggest country for Bitcoin ATMs, surpassing El Salvador.
Investors are also ready to move past negative crypto sentiments in 2023, which will in turn help drive growth of Bitcoin ATMs, according to the report.
