2021 is celebrated as the Year of the Ox, and it has already become friends with the bullish market. The Chinese culture signifies the Ox as a valued animal, and people born in the year of the Ox are believed to be hardworking, reliable, and intelligent. However, the Ox Year has been especially bad for the stock market as it’s coming out of the Year of the Rat (2020). Brandon Mintz, CEO of Bitcoin Depot®, managed to keep his company’s engines revving with full throttle even when the pandemic was at its worst.
Bitcoin has seen a plunge in the market with some recent trends, and it gave the cryptocurrency an all-time high value of over $60,000 per coin, painting a profitable portrait for investors around the globe. Mintz advocates for this progress of the crypto economy through his mission to become the largest retail network of cryptocurrency access point providers worldwide. Bitcoin Depot® has a unique cash-to-crypto service that enables the users to buy digital coins in return for cash at a Bitcoin ATM.
Keep reading to find out how Mintz is looking at 2021 as the Year of the Ox’s reign and how the market is fulfilling his plans.
Succeeding through the Pandemic
Year of the Rat? Not so much for Mintz. 2020 was indeed a setback for big and small businesses as the world was caged inside due to strict lockdowns. However, it aroused a more profound interest in people about the stock market, and more newcomers tried their hands in investing, trading, and playing the fortune card. “The market crashed, leaving China as the most wounded country. But they ended the year better than it started, and they picked up from the crunch really well,” says Mintz.
It’s notable that last year, Bitcoin Depot® hit its 1000 BTM milestone while also making an increase of 130% in its team size. The year marked a great success for the company, and it directly indicates the high demand for Bitcoins in the market. “Bitcoin mining has been at a crazy pace. Currently, nearly 18.5 million out of 21 million BTC has been mined,” adds Mintz.
A bright future ahead
Brandon shares that with continuous efforts and effective planning, his team plans to install about 6,000 BTMs by the end of this year. With bigger milestones in the pipeline, the CEO is optimistic about people’s acceptance of cryptocurrency. “The pandemic compelled a lot of people to learn more about investing and trading in the crypto world, and it has motivated us to make their lives easier by making it more feasible and easily available,” says Mintz.
Since we are approaching the last leg of mining BTC, the prices are projected to inflate, giving the investors a green signal to invest now and earn later. Some projections also suggested that the prices can go up to $1 million by 2036 if the consumer price inflation averages 2.5%.
The 21 million bar is not too far away, and the BTC market will continue to flourish even after that happens. “Back in 2012, I had an eye on Bitcoin’s future success, and as we all can agree, it has been flourishing through its journey. The future looks interesting, and I can’t wait to see where it takes us,” shares Mintz.