Bitcoin Depot, which has more than 7,400 Bitcoin ATMs in the US, has announced that it will seek to allocate some of its cash reserves to Bitcoin. The company explained that this strategy aligns it with other forward-thinking institutions that use Bitcoin as a hedge against inflation and benefit from its assets in the future. Bitcoin Depot said its bitcoin purchases would be "opportunistic in nature" and would not include the funds it needs to operate. Chief executive Brandon Mintz said the move demonstrated the company's "long-standing belief that bitcoin is an important financial asset and store of value". The company did not disclose how much of its cash reserves it intends to convert into bitcoin, or whether it has set any percentage targets for the task.