Friday, October 15, 2021

Theater Chain AMC To Accept Other Cryptocurrencies Along With Bitcoin

Adam Aron, boss of AMC Entertainment Holdings Inc., said the theater chain will accept bitcoin as well as ether, bitcoin cash and litecoin for ticket purchases, as the cryptocurrency gains acceptance among mainstream investors and companies.

“Cryptocurrency Enthusiasts: As you probably know @AMCTheatres has announced that we will be accepting bitcoin for online ticket and concession payments by the end of 2021. I can confirm today that when we do, we hope to also “We will likewise accept Ethereum, Litecoin and Bitcoin. Cash,” Arno. said on twitter on Wednesday

The company said in August that it would start accepting bitcoin, the most popular cryptocurrency, by the end of the year.

Bitcoin and Ether prices declined marginally, while Litecoin was up 1.7%. Shares of AMC, one of the so-called “meme stocks,” were down about 1 percent in premarket trading.

“While I don’t think any of these coins are going to have any parabolic momentum, for me this is another great step towards the global adoption of crypto as a whole,” said a user from the Reddit group. r/cryptocurrency that discusses digital currencies.

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Many large corporations in the US are jumping on the crypto bandwagon, even as there are growing concerns over the environmental impact as “mining” digital currencies consumes enormous amounts of energy.

Analysts have also questioned the feasibility of day-to-day use of cryptocurrencies.

“People are not buying bitcoins to spend them. To me, it is still not a well-established currency in the sense that it is an investment for the future or something that we want to do in the future, Ipek Ozkardetskaya, senior analyst at Swissquote Bank, said.

El Salvador, the first country to adopt bitcoin as legal tender, is facing several technical glitches in its digital wallet due to delays in signing up to the app.

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This News Originally From – The Epoch Times

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