Theater chain AMC to take delivery of different cryptocurrencies alongside bitcoin

AMC buys largest European theater chain in $1.2-billion deal - Los Angeles  Times

Sept 16 (Reuters) – AMC Entertainment Holdings Inc (AMC.N) boss Adam Aron stated that the theatre chain would accept ether, bitcoin cash and litecoin alongside bitcoin for ticket purchases, as cryptocurrencies gain acceptance amongst mainstream investors and companies.

“Cryptocurrency enthusiasts: you likely understand @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can verify today that when we do so, we additionally expect that we in a similar fashion will accept Ethereum, Litecoin and Bitcoin Cash,” Aron stated in a tweet on Wednesday.

The organisation stated in August that it would begin accepting bitcoin, the most famous cryptocurrency, by the end of the year.

Prices of bitcoin and ether have been marginally down, whilst litecoin was up 1.7%. AMC’s shares, one of the so-called “meme stocks”, have been down about 1% in premarket trading.

“While I do not think this is going to make any of these coins do any parabolic movements as a result, to me this is just another amazing step in the international adoption of crypto as a whole,” said one user in the Reddit group r/cryptocurrency that discusses digital currencies.

Many big firms in America are jumping on to the crypto bandwagon even as concerns grow over the environmental impact since “mining” digital currencies consumes huge amounts of energy.

Analysts have additionally raised questions about the viability of everyday use of cryptocurrencies.

“People are not buying Bitcoin to spend them. For me, it is still not a well established currency in the sense that it is more of an investment for the future or for something that we may also want to have in the future,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

El Salvador, the first country to have adopted bitcoin as legal tender, is dealing with a variety of technical glitches in its digital wallet delaying signing up to the app.