BUSINESS | Sep 18, 2021 | WOZINGA NEWS
Theater chain AMC to accept Ethereum, Litecoin and Bitcoin Cash
- Movie-theater chain AMC Entertainment Holdings will broaden its crypto horizons beyond Bitcoin
- Moving to accept three other types of digital tokens for online ticket and concession payments by the end of the year.
By Elah Mae Ariate Wozinga Staff
AMC Entertainment Holdings Inc. (AMC.N) CEO Adam Aron announced the acceptance of the theater chain by mainstream investors and companies in addition to bitcoin to ticket purchases. Credit currency assets are now accepted by major investors and corporations.
“Cryptocurrency fans, you’re probably aware that @AMCTheatres has announced that before the end of the year, we’ll be accepting Bitcoin for online ticket and concession payments. I can confirm that when we do so, we expect to accept Ethereum, Litecoin, and Bitcoin Cash in the same way “In a tweet on Wednesday, Aron added.
Large Firms in the US are jumping on the crypto bandwagon
In August, the company said that before the end of the year, it would begin accepting bitcoin, the most popular cryptocurrency.
Bitcoin and ether prices were marginally lower, while litecoin was up 1.7 percent. AMC, one of the so-called “meme stocks,” was down about 1% in premarket trading.
“While I doubt any of these coins will see parabolic moves as a result of this, to me this is just another wonderful step in the global adoption of crypto as a whole,” one user in the Reddit community r/cryptocurrency stated.
Many large firms in the United States are jumping on the crypto bandwagon, despite growing environmental concerns about the impact of “mine” digital currency, which consumes vast quantities of electricity.
Analysts questioned the practicality of using cryptocurrency daily
“People are not purchasing Bitcoin to spend it. For me, it’s still not a well-established currency in the sense that it’s more of a long-term investment in something we might want to have in the future “Ipek Ozkardeskaya, senior analyst at Swissquote Bank, agreed.
El Salvador, the first country to have taken Bitcoin as a legal tender, faces a series of technical failures to sign up for its app, Barrons.com reported.