Mexico Recently Installed An ATM Of Bitcoin In Senate Building

Bitcoin ETF

The Senate building of Mexico now has one Bitcoin ATM which is the 14th Bitcoin ATM and shows that the country is giving more interest in cryptocurrency. The installation of the ATM happened this Tuesday with the help of many legislators. Miguel Angel Mancera, the head of the Party of the Democratic Revolution (PRD) which is a group of the parliamentary also supported this initiative.  

Senator, Indira Kempis Is Fighting For Bitcoin Development In Mexico

Indira Kempis, the enthusiast of crypto and the Senator was very excited and shared her feeling on Twitter. She stated that this initiative was mainly undertaken for the education of finance, inclusion, and freedom in Mexico. 

As per the data from Coin ATM Radar, there are 13 machines in the city of Mexico that are situated in different places like San Miguel de Cozumel, Tijuana, Guadalajara, and many other places. The installation of the bitcoin ATM brought the news that BTC already crossed the volume of transactions of payments that were conducted with the help of conservative systems like Visa, MasterCard, and PayPal. 

This data was given by the representatives of PDR to a news channel named El Heraldo. As per the data from crypto ownership of Triple A’s in 2021, in recent times, approximately 40% of the companies in Mexico are interested in using cryptocurrency and blockchain. Moreover, out of this population, 71% of people are interested in the usage of cryptocurrency. 

In 2020, there was a report that the main crypto exchange of Mexico, Bitso, experienced a 342% rise in the volume of trade with more than 1 million users among which 92% belong from Mexico. According to Kempis, BTC should be made the legal currency as it has the potential to increase financial involvement.

However, as per Ricardo Salinas, the advocate of BTC stated that this journey will be tough and full of challenges like fiat fraud.