Leading bitcoin ATM network in the United States Coinsource has expanded into Tennessee by installing the first-ever bitcoin ATM machine in Memphis, and two more in Nashville.

According to the official release, the first-ever bitcoin ATM in Memphis has been installed at 967 Linden Avenue along one of the main roads of the Downtown district. The Coinsource machines in Nashville have been installed in Z-Marts, one adjacent to the Nashville International Airport, and the other ATM less than a mile north of the city center.

“The demand for bitcoin ATMs has never been higher than it is today. The most rewarding part of our job is to answer the call when requests come in for new locations, so it is exciting to make history in Tennessee. Our reach in the South is growing. So far, we have 60 machines across 8 states, and look forward to gaining a foothold in even more new cities around the country”, Coinsource CEO and Co-Founder Sheffield Clark said.

In 2016, Coinsource has installed Bitcoin ATMs at a rate of 1.2 machines per week. Last month, the company installed six new machines in California – four in the greater Los Angeles area, and two in the San Francisco area – which it said it launched to meet the huge spikes in customer demand.

“Today we celebrate digital currency coming to The Volunteer State. We see huge potential for bitcoin in Tennessee, and look forward to supporting the community long into the future”, Clark added.

Bitcoin is the most widely used cryptocurrency and recently its price has broken above $700 mark. On the day of the US Presidential Election results, BTC/USD hit 740 levels.

"The valuation of Bitcoin has risen sharply in November, and surprising election results have caused traditional market uncertainty, prompting many experts to forecast an influx of cryptocurrency adoption. Many thousands of Americans have begun to realize that bitcoin is becoming a stable payment option and a lucrative form of investment as well,” concluded Clark.