The Bitcoin company, Bitcoin Brains, was started by Dave Bradley who was just a hobbyist then and used to meet other people with similar interests. Later on he figured out that it made sense to open a brick and mortar Bitcoin store in 2013 and once the store was opened, he never looked back and now running one of the most successful Bitcoin stores.
His company has recently got a sweet deal from the Canadian brokerage services firm and Bitcoin ATM provider BitNational as it acquired the store’s operations for $2.1 million. Thus, the store that was the first full-service, brick-and-mortar Bitcoin store in the world has now become part of business interest of BitNational.
Dave Bradley showed his happiness about the latest deal with BitNational when he admitted that his company secured the deal with a deposit done by multisignature. According to him this kind of application will be huge in the future. Nonetheless, the acquisition move is immediately important to Western Canada as a whole, since it consolidates Bitcoin ATM ownership.
Canada provides quite open market for Bitcoin companies, there are no challenges like BitLicense in the country. In fact, Canada is leading the world in Bitcoin adoption, at least at the consumer level as the country has more BTC ATMs than any other country with a fairly small population. This itself indicates Canada welcomes Bitcoin users and companies as well.
Bitcoin Adoption Will Increase as Bitcoin Infrastructure Expands
Nonetheless, at the merchant level, though there are not many brick-and-mortar adoptions, a lot of online companies are embracing the digital currency. Dave Bradley however, hopes that despite the fact that establishing Bitcoin infrastructure is tough, there is still a lot of potential and the next couple of years are going to be the most happening for Bitcoin.
He seems to be against Bitcoin regulation when he says that some countries may set themselves back decades if they over-regulate and stifle all the innovation that’s coming from the Bitcoin. According to him for every high-profile, VC-funded startup out there, he can bet there are 100 smaller companies working on just as interesting and innovative things.
Nonetheless, the latest deal is going to help the company create a country-wide Bitcoin ATM network, and position it as the leader in Western Canada’s Bitcoin services by spanning the cities of Edmonton, Calgary, Vancouver and Richmond.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org