Bitcoin has more than a few major handicaps—its wild price swings, it's seen as a means for black market transactions and it's hard to understand for investors.
Even as bitcoin prices plummeted to below $100 on one of its major exchanges Friday, Jordan Kelley thinks he has the answer for at least one of those problems: access.
That's why Kelley, CEO of Robocoin, opened the world's first bitcoin ATM in Vancouver, Canada, which now handles about 50 to 60 transactions a month. This week, Kelley installed its first U.S. bitcoin ATM—in Austin, Texas, just in time for the next month's South by Southwest festival and its tech-savvy crowds.
"It's the best store of wealth right now," Kelley said Friday on CNBC's "Squawk on the Street." "And that's why it spans across the globe and it's going to be understood and well-received."
(Read more: Robocoin rolling out first bitcoin ATM in the US)
Kelley believes bitcoin ATMs can help increase understanding and usage of the digital currency.