The Georgian capital city of Tbilisi has the most number of Bitcoin ATMs in the world per $10 billion local GDP, says a new study titled 'World's Most Crypto-Friendly Cities'.
Tbilisi seems an unlikely contender for the top spot on this list of international cities pioneering Bitcoin adoption. But the former Soviet republic of Georgia, with a population of less than four million people, is now the second largest miner of cryptocurrency in the world. Inexpensive hydropower and a lack of federal regulation have turned the country into a 'virtual printing press' for virtual money, giving the 23 bitcoin ATMs in Tbilisi an outsized presence in the Georgian economy", reads the study.
The full study is a compilation of data uncovering the top cities in the US and around the world with concentrations of Bitcoin ATMs compared to city populations and GDP to uncover some new and unique data-focused insights.
The study even includes a Twitter scrape of +100,000 users actively participating in #bitcoin and #crypto -conversations.