Bitcoin Depot is a leading cryptocurrency ATM network that allows users to buy and sell Bitcoin, Litecoin, and Ethereum quickly and easily. It operates ATMs across the United States, making it more accessible for people to purchase and sell cryptocurrencies.
However, the ownership of Bitcoin Depot is not straightforward. The company was founded in 2015 by Brandon Mintz, but since then, there have been multiple changes in the ownership structure.
In 2018, the company received an investment from Nin Ventures, a venture capital firm, which allowed Bitcoin Depot to expand its operations. As a result of this investment, Nin Ventures became a significant shareholder in the company.
Later in 2018, Bitcoin Depot announced a partnership with Genmega, a leading ATM manufacturer. This partnership allowed Bitcoin Depot to offer its services on Genmega’s ATMs, significantly increasing the company’s reach.
In 2020, Bitcoin Depot announced a merger with DCG, a cryptocurrency investment firm. The merger was designed to help Bitcoin Depot scale its operations and expand its product offerings. The deal was valued at $25 million, and DCG became the majority shareholder in the company.
DCG is a well-known investor in the cryptocurrency space, and its portfolio includes companies like Coinbase, CoinDesk, and Grayscale Investments. The company has been actively investing in the cryptocurrency space since 2013 and is considered a pioneer in the industry.
DCG’s involvement in Bitcoin Depot has helped the company grow quickly and expand its operations. Since the merger, Bitcoin Depot has added over 700 new ATMs across the United States, making it one of the largest cryptocurrency ATM networks in the country.
Despite the involvement of Nin Ventures and DCG, Brandon Mintz remains the CEO of Bitcoin Depot. He has been instrumental in the company’s growth and has led the company through multiple funding rounds.
In an interview with Yahoo Finance, Mintz discussed Bitcoin Depot’s mission and the future of the cryptocurrency industry. He stated that he believes cryptocurrency is the future of money and that Bitcoin Depot is focused on making it more accessible to the masses.
In conclusion, Bitcoin Depot is currently majority-owned by DCG, a well-known cryptocurrency investment firm. However, the company’s CEO, Brandon Mintz, remains in charge of the day-to-day operations. Bitcoin Depot has grown rapidly in recent years and is now one of the largest cryptocurrency ATM networks in the United States. Its mission is to make cryptocurrency more accessible to the masses, and it is well-positioned to continue to do so in the future.