Bitcoin ATMs Are “Rip-Offs,” Says Dogecoin Co-Creator Billy Markus

In a recent tweet on X, Dogecoin Co-Creator Billy Markus, also known as Shibetoshi Nakamoto, expressed his displeasure with Bitcoin automated teller machines (ATMs), calling them rip-offs. His statement came in reaction to a tweet by a user who said he tried out the ATM for the first time.

Notably, the user shared a picture of a store’s poster that said “Bitcoin ATM Inside.” The user said it would be their first time seeing a Bitcoin ATM. In response to the post, Markus remarked, “They’re ripoffs.” The user replied, “It didn’t work, lol,” hinting that their effort to use the Bitcoin ATM had failed.

Bitcoin ATMs entered the market following the token’s value boom. As more businesses and individuals turn to digital assets, the number of Bitcoin ATMs has soared. Indeed, CoinATM radar data show that there are approximately 27,394 Bitcoin ATMs in the United States. Furthermore, the number of Bitcoin ATMs is increasing by 3.7 each day.

Bitcoin ATMs allow people to convert fiat currencies into Bitcoin and vice versa. Even though ATMs could boost adoption in the cryptocurrency space, Markus’ views suggest the technology is still far from perfect.

However, the challenges with the machines stretch beyond their use. Earlier in March, Bitcoin ATM manufacturer General Bytes became the victim of an exploit. The hackers reportedly gained access to sensitive information from the manufacturer, which included passwords, private keys, and funds.

Meanwhile, in a separate tweet, Markus said he hopes Bitcoin’s price shoots to a trillion dollars. He said such a price surge would significantly increase the worth of the 0.01 Bitcoin he currently holds.

CoinMarketCap’s data shows Bitcoin’s upward trend has spilled into this week. At the time of press, the token had gained 0.73% in the last 24 hours. On the weekly price chart, it has added 11.56%.