Owner of 'Enchanted Bitcoins' explains why he chose New Mexico

First Bitcoin ATM in U.S. is in Albuquerque

Albuquerque is making history when it comes to the futuristic currency called Bitcoin.The first Bitcoin ATM was recently installed in Albuquerque. Most locals told Action 7 News they had never heard of the modern cryptocurrency."No, never heard of it," said Allison Miera, a UNM student.She's not alone."Isn't it imaginary money? Isn't that what it is?" asked Mike Boyd, who works downtown.CLICK HERE to see how the ATM worksThe owner of "Enchanted Bitcoins," Eric Stromberg, who owns the ATM calls it "programmable money."Stromberg said he chose New Mexico to install the ATM because it is one of three states that doesn't require a license to transmit money.He said he chose the venue for the ATM, the cigar shop Imbibe, because of its close proximity to the University of New Mexico's campus.To use the machine, Stromberg said all you need is cash and a smartphone.Stormberg inserted one dollar into the machine to demonstrate. The dollar was worth a fraction of a Bitcoin. Within seconds the digital currency was available in Stromberg's virtual account."There are a small but growing number of merchants that accept Bitcoin," he said.Those merchants include Overstock.com, and some local New Mexico restaurants like Ortega's.One place that doesn't accept bitcoin is the shop where the ATM is located. Though that could change soon. A manager told Action 7 News customers may be able to pay with Bitcoin at Imbibe as soon as next week.

Albuquerque is making history when it comes to the futuristic currency called Bitcoin.

The first Bitcoin ATM was recently installed in Albuquerque. Most locals told Action 7 News they had never heard of the modern cryptocurrency.


"No, never heard of it," said Allison Miera, a UNM student.

She's not alone.

"Isn't it imaginary money? Isn't that what it is?" asked Mike Boyd, who works downtown.

CLICK HERE to see how the ATM works

The owner of "Enchanted Bitcoins," Eric Stromberg, who owns the ATM calls it "programmable money."

Stromberg said he chose New Mexico to install the ATM because it is one of three states that doesn't require a license to transmit money.

He said he chose the venue for the ATM, the cigar shop Imbibe, because of its close proximity to the University of New Mexico's campus.

To use the machine, Stromberg said all you need is cash and a smartphone.



Stormberg inserted one dollar into the machine to demonstrate. The dollar was worth a fraction of a Bitcoin. Within seconds the digital currency was available in Stromberg's virtual account.



"There are a small but growing number of merchants that accept Bitcoin," he said.



Those merchants include Overstock.com, and some local New Mexico restaurants like Ortega's.

One place that doesn't accept bitcoin is the shop where the ATM is located. Though that could change soon. A manager told Action 7 News customers may be able to pay with Bitcoin at Imbibe as soon as next week.