Virtual currency exchange Bitcoin of America announces support for meme currency ‘Dogecoin’ in its ATMs causing the price of DOGE to skyrocket.
According to the press release, Bitcoin of America recognized the rise in popularity of Dogecoin and thought it was time to include it in their Bitcoin ATM machines (BTMs). The price of DOGE soared up 13% in the last 24 hours and is now trading at $0.1392.
Bitcoin of America launched their new Universal Kiosk in May of last year, which combines the capabilities of a standard ATM with those of a Bitcoin ATM and provides three key purposes.
The first is the standard ATM feature, which allows users to withdraw cash using their debit cards. The ability to buy cryptocurrencies with cash is the second feature. The final option is for customers to sell cryptocurrency in return for cash.
In October 2021, Bitcoin of America introduced Ethereum to its platform. Bitcoin of America now has over 1800 BTMs spread across 31 states. Bitcoin of America also accepts Bitcoin and Litecoin at their BTM stores and online.
While talking about Dogecoin we can’t leave out its biggest supporter Elon Musk who tweets out his favoritism towards the meme coin. Last month his company Tesla announced that Tesla owners will be able to pay in Dogecoin at Supercharger stations.
In January, Elon even announced that he would eat a happy meal on TV if McDonald’s accepts Dogecoin payments. Recently Elon even revealed that he owns Bitcoin, Ethereum and Doge and won’t be selling them.