Bitcoin ATM in NYC?

bitvestment partners izeaAs 2014 approaches, Bitcoin miner and Izea Founder/CEO Ted Murphy has made a number of predictions for the coming year. A big one that’s turning a lot of heads is his belief that at some point in the next 12 months, New York City will see its first Bitcoin ATM.

He elaborated on Bloomberg Television’s “In the Loop,” speaking to Betty Liu:

“Bitcoin is huge right now and there are so many opportunities for entrepreneurs looking to get in this space. I think that you are going to see the first Bitcoin ATM in New York City. You saw the first one happen in Vancouver earlier this year. It did a million dollars in transactions in the first month. So people are accumulating these Bitcoins but there’s no easy way to get the money back out. And I think that you’re going to see the first Bitcoin [ATM] in New York–there are so many transactions happening there, it’s a great opportunity for an entrepreneur.”

He went on to describe how Bitcoin will continue to appreciate in value as more and more retailers begin to accept it as a form of payment. Just last week, Overstock.com announced they would begin to accept Bitcoins some time next year, so it certainly looks as though things are heading in that direction.

While those who don’t understand how the system works might laugh at its apparent boldness or volatility,  the closer you look at the mathematics behind it, the more Bitcoin works as a viable, reliable currency. What we’re seeing right now is more and more individuals across industries and professions coming to their senses and realizing that Bitcoin is revolutionary and that it’s here to stay