The first Bitcoin ATM will be unveiled in San Diego this week. (bitcoinATM.com)
HumanIPO received a press invitation today to the demonstration which will be held in the Hotel Del Coronado.
The announcement follows the news that hundreds of companies from more than 30 countries have expressed an interest in installing and managing a Bitcoin ATM.
HumanIPO revealed earlier this month five African countries - South Africa, Egypt, Angola, Libya and Ghana - are among those on Bitcoin ATM’s hitlist.
The machine works by offering people with Bitcoin accounts the opportunity to exchange the digital currency for its relevant value in the fiat currency of the country the ATM is in.
Bitcoin holders will also be able to deposit fiat currency into the ATM to buy Bitcoins.
After the launch in San Diego, Cyprus is expected to be next destination for Bitcoin ATM as the entrepreneurs behind the venture look to take advantage of lack of confidence in the Euro zone.
