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World's first Bitcoin ATM coming to Cyprus

By Andrew Moran
Posted Mar 28, 2013 in Business
Economic Collapse News | The world’s first Bitcoin ATM coming to Cyprus amid economic collapse
"Jeff Berwick, founder of and CEO of TDV Media, announced in a press release Monday that he will establish the world’s very first Bitcoin ATM in Cyprus. The purpose of opening the Bitcoin machine is due to the financial collapse, bailouts of financial institutions, capital controls and bank closures.
"The automated Bitcoin dispenser will be bi-directional; bitcoin for cash and cash for bitcoin. It may prove to be a success because it has been rather popular in southern Europe, especially in countries that are on the brink of collapse, like Spain.
"The company is now seeking investments and licensees for their Bitcoin ATM technology and to bring it to a market near you. As more nations suffer severe economic depressions, bitcoins may be just as much a safe haven as precious metals."