Shibetoshi Nakamoto Takes Aim at Bitcoin ATM Economics, Reveals Modest BTC Holdings

Billy Markus, the co-founder behind Dogecoin’s creation and known online as Shibetoshi Nakamoto, recently fired criticism at the Bitcoin ATM industry, describing these machines as poor value for consumers. The comment emerged during an X (formerly Twitter) exchange when another user shared a photo of a retail location advertising Bitcoin ATM services. Markus responded directly with a candid assessment: “they’re ripoffs.”

This criticism was further validated when the original poster revealed that their experience with the machine had been unsuccessful, stating “It didn’t work lol.” The interaction highlights growing frustration within the crypto community regarding both the functionality and pricing mechanisms of these ATMs.

The Bitcoin ATM Landscape: Growth and Scale

Bitcoin ATMs function as physical conversion points, allowing users to exchange traditional currency for digital assets. Currently, the United States hosts roughly 27,032 of these machines, with CoinATM radar data showing the network expanding at a pace of approximately 3.7 new installations daily. Despite this rapid proliferation, the machines have attracted scrutiny from both users and industry figures like Markus regarding their fee structures and reliability.

Security Vulnerabilities in the ATM Ecosystem

Beyond operational concerns, the Bitcoin ATM sector faces legitimate security challenges. In March of the prior year, a significant breach compromised General Bytes, a major Bitcoin ATM manufacturer, exposing sensitive data including cryptographic keys, password credentials, and stored funds. Such incidents underscore the technical and security risks inherent to these physical infrastructure components within the crypto adoption pathway.

Billy Markus on Cryptocurrency Holdings and Future Outlook

In a separate conversation thread on X, Markus opened up about his personal cryptocurrency portfolio and market aspirations. He disclosed holding a relatively modest 0.01 Bitcoin, while simultaneously expressing hope that Bitcoin’s valuation could reach the trillion-dollar milestone. “I have 0.01 bitcoin now so I hope it goes to a trillion dollars,” he wrote.

This disclosure sparked a response from @thedogecoach, who expressed disappointment regarding Markus’s apparent reduced enthusiasm for Dogecoin—the very project he had helped create. The coach noted the contradictory nature of Markus’s Bitcoin focus while diminishing his connection to DOGE, which has served as a unifying force within the community.

Current Market Conditions

As of the latest trading data, Dogecoin is priced at $0.13, down 2.30% over the previous 24-hour period. Bitcoin continues trading in the $88,800+ range, reflecting the current macroeconomic backdrop and broader institutional interest in cryptocurrency markets.

The exchange between Markus and community members reflects an ongoing tension within crypto spaces—balancing practical critiques of infrastructure like Bitcoin ATMs against the foundational ideals of asset accessibility and financial inclusion that initially drew many to digital currency ecosystems.