ZombieFinancial Services
What Happened to Bitcoin Depot?
Ticker: BTMSPAC Year: 2022Merger: 2023
Return
-67.3%
Current Price
$3.5
Peak Price
$78.05
Trust Size
$131M
Summary
Bitcoin Depot is the largest Bitcoin ATM operator in North America, with thousands of kiosks in retail locations allowing consumers to buy Bitcoin with cash.
What Happened
Bitcoin Depot went public in July 2023 through a merger with GSR II Meteora Acquisition Corp. The company operates Bitcoin ATMs in convenience stores, gas stations, and other retail locations across the U.S. and Canada, primarily serving underbanked consumers. The stock has been volatile with crypto market sentiment but the company generates real revenue from transaction fees.
Timeline
2022-02-23
S-1 Registration Filed
2023-06-20
Merger Proxy Filed (DEFM14A)
Risk Indicators
⚠️ Reverse Split