The second spike also took place shortly after the installation of Greece’s first bitcoin ATM on June 20. That ATM, located in a bookstore on the outskirts of Athens, runs on a platform provided by Bitcoins Greece, a Greek-owned, London-based company established a year ago that provides a platform for digital currency sellers and buyers.
Since the financial crisis started, Bitcoin Greece has been registering about 50 new users every day, almost double the usual amount, says Konstantinos Panagiotopoulos, associate at Bitcoins Greece. This does not translate into actual transactions, but Panagiotopoulos believes the crisis will accelerate Greek adoption of the new currency.
“I don’t believe people would give up their euros this day,” he said. “Greece is not ready for bitcoin and bitcoin is not ready for Greece.”