DollarVigilante: World's First Bitcoin ATM Heading to Cyprus

bitcoinatm-crop“While European politicos negotiate in Brussels, deciding the fate of other people’s money in Cyprus, the free market has already moved in to help Cypriots get access to their money via other means.

The Dollar Vigilante‘s editor-in-chief and Bitcoin ATM CEO, Jeff Berwick, is planning the first Bitcoin ATM. “If we did this now, and we are moving quickly to make this so, we would be the only functioning ATM on the island.”

The planned ATM will allow users to deposit fiat and receive Bitcoin as well as send Bitcoin and receive fiat in return.

Jeff explains the motivations behind this new business venture…

“In Europe, institutions like the International Monetary Fund, European Central Bank & the German Federal Government have forced individuals to suffer through the confiscation and devaluation of their savings through techniques like taxes, levies and inflation.”

“The European Central Bank published a report in October, which stated that increased demand for Bitcoin ‘could have a negative impact on the reputation of central banks,’ particularly if the public perceives Bitcoin’s value is due to ‘a central bank not doing its job properly.’ Yet another reason why I know this idea is a good one.”

“These reasons and others are why I feel that Bitcoin ATM’s time is now. We picked our slogan, ‘Your Future Now,’ to demonstrate the immediacy with which we feel we must roll out this technology.”

“I’ve founded many successful internet companies, and rarely have I been as excited about an idea as Bitcoin ATM. I’ve got a great, knowledgeable team who has already contacted important people within and without the ATM and bitcoin communities to make this feasible. You’ll be intrigued by the unexpected relationships we’re forging to bring Bitcoin to more people across the globe. In gauging shop owners in the digital currency unfriendly state of California last week, the Bitcoin ATM team discovered great interest from not only those who knew Bitcoin, but also from those who did not. Stateless currencies will be a way of the future, and that’s why Bitcoin ATM, and why now.”

Bitcoin ATM is actively seeking franchisees and investors. If you’re interested you can reach them at bitcoinatm@bitcoinatm.com.

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