Meridian residents interested in bitcoin can now purchase the cryptocurrency at the Bonita Chevron gas station.
Bitcoin is a digital currency that is not tied to a bank or government, according to the Associated Press.
The currency is not widely used to pay for goods, though some companies have started to accept bitcoin, including Tesla, according to the Associated Press. Bitcoin has primarily been used as a store of value, like gold.
A bitcoin ATM was recently installed at the Bonita Chevron, a store owned by Maples Gas Company. People can use the ATM to buy bitcoin and seven other types of cryptocurrency, said store supervisor Tyler Fitzgerald.
The value of bitcoin changes over time. As of last Thurday morning, one bitcoin was worth over $57,000. People can buy increments of bitcoin, like $20 worth.
Fitzgerald said some people believe the whole world will use cryptocurrency in the future.
“Will it?” he said. “We don’t know.”
Buying bitcoin is a way to be “ahead of the game,” Fitzgerald said. Bitcoin might increase in value over time. According to the Associated Press, one bitcoin was worth less than $1,000 at the start of 2017, which is much less than the cryptocurrency’s current worth. However, the value of bitcoin is volatile.
Customers must use cash when buying bitcoin at the new ATM in the Bonita Chevron. A few other gas stations in Meridian also offer bitcoin ATMs.