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LAS VEGAS - Bullet Blockchain, Inc. (OTC:BULT), currently trading at $0.06 with a market capitalization of $23.27 million, announced Tuesday a four-pillar strategic plan focused on expanding its Bitcoin ATM network operations across the United States. The company’s stock has shown remarkable momentum, gaining nearly 13% in the past week and over 45% in the last six months.
The company, which describes itself as one of only three publicly traded Bitcoin ATM network operators in the U.S., outlined initiatives centered on operational expansion, leadership enhancement, capital acquisition, and strategic partnerships. According to InvestingPro analysis, BULT generally trades with high price volatility, with the stock currently trading at 3x its 52-week low of $0.02.
According to the announcement, Bullet Blockchain is pursuing opportunities to acquire and deploy additional crypto kiosks while engaging in discussions with convenience stores and gas station chains for distribution agreements to accelerate network growth.
The company also stated it is seeking to strengthen its executive team and board of directors, particularly with specialists in intellectual property to leverage its Bitcoin ATM patents (US9135787B1 and US10332205B1), which the company claims are foundational to the industry.
To fund its expansion plans, the company reported it is exploring various capital formation opportunities including credit facilities, short-term loans, and equity financing. It also mentioned evaluating the creation of a Strategic Bitcoin Treasury program.
The final component of the strategy involves developing partnerships aimed at enhancing security solutions for digital assets and facilitating new use cases such as international remittances.
"We have a clear strategy to capitalize on the explosive growth of the crypto ATM market," said Simon Rubin, CEO of Bullet Blockchain, in the press release statement.
Bullet Blockchain acquired First Bitcoin Capital LLC, which provided the company with ownership of the two Bitcoin ATM patents that it continues to license to operators and manufacturers.
The company’s common stock trades on the OTC Markets under the symbol BULT. For investors seeking deeper insights, InvestingPro offers 8 additional key tips about BULT’s performance and financial health, helping you make more informed investment decisions.
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