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Bitcoin Romania, the largest cryptocurrency trading platform on the local market, aims to register 250,000 customers by the end of the year, more than 50,000 at the moment. The company also plans to reach a network of 300 ATMs in 2021 and address the NGO segment through a pilot program that occurs during the pandemic.
Bitcoin Romania, a cryptocurrency trading platform launched in April 2014 by Constantin and George Rotariu, plans to increase the number of users by 50,000 people this year and the number of ATMs from 50 currently to 300 at the end of the year. Bitcoin Romania is the company that in 2014 brought the first crypto ATMs in Continental Europe, meanwhile becoming the most extensive network locally.
“There is a rapid growth established in the ATM network thanks to the success of the Partner program, where an ATM can be franchised. This has proven to be a good step as our partners are happy with the performance of their ATMs. Bitcoin Romania keeps looking for partners all over Romania”, states Constantin Rotariu, co-founder and COO of Bitcoin.
The company’s founders say that the biggest challenge since Bitcoin Romania’s launch has been Bitcoin demystification.
“From the beginning, much of our efforts have been to promote the message that Bitcoin is a safe environment for investment. We currently have the same goal – to provide a secure and fast infrastructure for Bitcoin trading. The pandemic slowed down the development of many businesses. We felt this in terms of growing the ATM network: we had to adapt, to prevent supply problems, find other places for the spaces where we wanted to open ATMs and were restrictions. But we are recovering quickly and we want to end this year with 250,000 users and 300 ATMs on our own and through partners”, says George Rotariu, CEO and co-founder of Bitcoin Romania.
Among Bitcoin’s most important partnerships is the one with Auchan, the two companies planning to place ATMS in Auchan locations throughout Romania. Auchan hypermarkets currently have ten cryptocurrency ATMs.
Estimate: A Bitcoin could be worth $ 100,000 by the end of 2021
The founders of Bitcoin Romania estimate that the virtual currency will increase from approximately 61,000 dollars at present to one million dollars in the next five years. Also, a Bitcoin could be worth $ 100,000 by the end of 2021.
“Bitcoin’s success is determined by a mix of factors. More and more companies use Bitcoin: PayPal, Tesla, Rakuten are just some of the companies that accept cryptocurrencies as a payment solution. Such companies push the market. Financial analysts have also moved from a negative to an optimistic attitude and institutional investors such as Square and MicroStrategy have invested heavily in Bitcoin. All these factors contribute to the growth of Bitcoin. It’s like a snowball that gets bigger and bigger”, adds Constantin Rotariu.
A program through which during the pandemic NGOs can generate revenues by operating ATMs
The company also announces a pilot program to address NGOs. Thus Bitcoin Romania launches an instrument through which, during the pandemic, non-governmental organizations can generate a monthly income by operating an ATM. NGOs have the benefits of an ATM partner, but without having their costs. The NGOs that use this tool are Betania (Bacau) and Atelierul de bine (Buzau).
Bitcoin hit a record of USD 62,741 on Tuesday, continuing the upward trend started early this year.
Major companies including BNY Mellon, Mastercard Inc and Tesla Inc are among those to have invested in cryptocurrencies.
Bitcoin topped USD 60,000 early last month, fueled by Tesla’s move to buy $1.5 billion of the digital currency for its balance sheet. For the past two weeks, it had traded in a tight range.
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