Bullet Blockchain Inc (BULT)

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$BULT Bullet Blockchain Deploys 10 Licensed Bitcoin ATMs

https://www.globenewswire.com/news-release/2023/12/18/2798086/0/en/Bullet-Blockchain-Deploys-10-Licensed-Bitcoin-ATMs.html

Bullet Blockchain’s Subsidiary, First Bitcoin Capital LLC, Continues to Pursue Unlicensed Violators of Bullet Blockchain’s Intellectual Property

RENO, NV, Dec. 18, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Bullet Blockchain, Inc. (“BULT” or the “Company”), (OTC: BULT), a pioneering software development and SaaS company at the forefront of blockchain technologies and Web 3.0, proudly announces a significant milestone: the successful deployment of 10 licensed Bitcoin ATMs across the state of Georgia as the first stage of its planned deployment and branding of 30 Bitcoin ATM kiosks.

As previously announced, BULT recently completed a strategic transaction to acquire a portfolio of Bitcoin ATMs. With this acquisition, BULT is excited to extend its cryptocurrency offerings and improve accessibility of digital assets for the residents of Georgia. The integration of BULT's IP Portfolio into these Bitcoin ATMs establishes the first licensed Bitcoin ATM network in North America. “We are thrilled to be one of the few publicly traded Bitcoin ATM companies, launching and branding the Bullet ATMs to serve the growing demand,” stated Simon Rubin, Chief Executive Officer of BULT. “With Bitcoin continuing to gain traction as an asset class, Bitcoin ATMs provide a straightforward and accessible way for individuals to participate. We see great potential in the Atlanta, Georgia metropolitan area, where diverse communities are increasingly interested in Bitcoin. We are confident that our Bullet ATMs will be well-received within the local community.” This move is in line with the rapidly growing demand for convenient cryptocurrency transactions.

Bitcoin ATMs offer a user-friendly, secure, and convenient means for individuals to buy and sell Bitcoin for cash. Transactions are typically completed within minutes, bridging the gap between traditional fiat currency and digital assets. As cryptocurrency adoption continues to rise, Bitcoin ATMs are poised for a promising future in the United States. Bullet ATMs have become a preferred choice for accessing the Bitcoin market, especially for those seeking alternatives to online brokers or exchanges. Simon Rubin, CEO of BULT, emphasized, “Bullet ATMs provide a practical alternative to online exchanges, making Bitcoin accessible to both seasoned enthusiasts and newcomers alike.”

Bitcoin ATMs have experienced significant growth in the United States, driven by the increasing demand for convenient cryptocurrency transactions. According to the website CoinATM Radar According to CoinATM Radar, there were nearly 27,455 Bitcoin ATMs in the United States and nearly 2,882 Bitcoin ATMs in Canada as of the time of this release. Bitcoin ATMs are becoming increasingly popular, as they offer a convenient way for people to access the Bitcoin market. As the adoption of cryptocurrencies continues to rise, the future of Bitcoin ATMs in the United States appears promising.

As previously announced, BULT acquired First Bitcoin Capital LLC, which owned an intellectual property portfolio consisting of the rights to two Bitcoin ATM patents, becoming the owner and licensor of these valuable assets. By virtue of its subsidiary First Bitcoin Capital LLC, BULT’s intellectual property includes the ownership and the exclusive rights to US Patent Nos. US9135787B1 “Bitcoin kiosk/ATM device and system integrating enrollment protocol and method of using the same” (US9135787B1) and US10332205B1 “Bitcoin kiosk/ATM device and system and method of using the same” (US10332205B1), respectively. The combined patents acquired by BULT are critical for Bitcoin ATM networks to operate. BULT plans to introduce several licensing programs for Bitcoin ATM manufacturers, which will include a per-transaction licensing fee, revenue share, or partner program with Bitcoin ATM owner-operators. As previously announced, BULT has retained counsel to target unlicensed Bitcoin ATM operators and manufacturers. The Company will continue to pursue unlicensed Bitcoin ATM operators and manufacturers violating the Company’s Bitcoin ATM intellectual property portfolio.