Mon Sep 23 23:18:47 UTC 2024: ## Bitcoin Depot Insider Buys Shares, Hedge Funds Show Interest

**New York, NY** – Bitcoin Depot Inc. (NASDAQ:BTM) saw a significant insider purchase on August 12th, when major shareholder Andrew Mitchell Paul acquired 38,560 shares at an average price of $1.70 per share, totaling $65,552. This brings Paul’s total ownership to 155,786 shares, valued at $264,836.20.

This move comes as several hedge funds have also been active in the BTM market. Shaolin Capital Management LLC increased its holdings by 7.6% in the first quarter, while Cohanzick Management LLC raised its stake by 54.4% in the fourth quarter. Renaissance Technologies LLC boosted its ownership by 122.1% in the second quarter. New positions were also taken by Privium Fund Management UK Ltd in the first quarter and Owl Creek Asset Management L.P. in the fourth quarter.

Despite this interest, BTM shares closed down $0.06 on Monday, ending the day at $1.53. The trading volume was 44,541 shares, compared to the average volume of 214,148.

While the company faces challenges, with a debt-to-equity ratio of 9.33, HC Wainwright maintains a “buy” rating for BTM and lowered their price objective from $4.00 to $3.50.

Bitcoin Depot operates a network of cryptocurrency kiosks across North America, enabling customers to buy and sell Bitcoin, Litecoin, and Ethereum. They also offer cryptocurrency sales through their BDCheckout product at various retail locations and online through over-the-counter trades.

Investors will be watching closely to see how BTM performs in the coming months, particularly given the recent insider and hedge fund activity.

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