Now installed in the reception of the World Trade Center is Gibraltar’s first Bitcoin ATM (BATM). People working in, living and visiting Gibraltar can now purchase the cryptocurrency using cash and mobile phone wallet apps. The BATM accepts GBP, GIP and EUR notes, so a fraction of a Bitcoin can be purchased for as little as £10 or €10.
Bitcoin ATM’s are regarded as the beacons of the cryptocurrency industry, which has become a worldwide phenomenon. Bitcoin has reached its all-time highest price in the last few days. In January 2009 when Bitcoin was first launched, 1 Bitcoin was worth $0.0001 (USD), today it’s worth a massive $4,000. Leading analysts predict that the value will hit a 6-digit number in 10 years’ time.
World Trade Center Gibraltar’s health food restaurant already accepts Bitcoin. Dan Thompson owner of Supernatural, located on the mezzanine floor of the World Trade Center stated, “It was a natural progression to start to accept a modern currency and as the first retail business to do so in Gibraltar, we hope it will raise awareness and encourage other retailers and customers to begin to use the currency too.”
The Government plans to introduce legislation in 2018 for the provision of Distributed Ledger Technology (DLT), including Blockchain, Bitcoin and other leading emerging eMoney innovations to regulate and facilitate this rapidly exploding sector of FinTech companies, many of which have already been attracted to the World Trade Center Gibraltar.
Speaking for the WTC Gibraltar, Ed Allison-Wright commented that “Having Gibraltar’s first Bitcoin ATM installed in the World Trade Centre Gibraltar is particularly fitting. It sits at the heart of what this global brand represents and brings to Gibraltar; expanding horizons, enhancing growth and fostering new links with international partners within our expansive network of 318 WTC’s; facilitating economic prosperity in Gibraltar, through global trade”.