As cryptocurrencies gain acceptability among mainstream investors and companies, AMC Entertainment Holdings Inc CEO Adam Aron said that the American theatre chain would accept ether, bitcoin cash, and litecoin alongside bitcoin for ticket purchases.
"Cryptocurrency enthusiasts, you're probably aware that @AMCTheatres has announced that we'll be accepting Bitcoin for online ticket and concession payments before the end of the year." 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.
In August, the company announced that by the end of the year, it would begin accepting bitcoin, the most popular cryptocurrency.
Bitcoin and ether were both slightly lower in price, while litecoin was up 1.7 percent. In premarket trading, AMC's stock, which is one of the so-called "meme stocks," was down roughly 1%.
"While I don't believe any of these coins will have any parabolic swings as a result of this, to me this is just another fantastic step in the global adoption of crypto in general," one user on 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 have also questioned the practicality of using cryptocurrency on a daily basis.
""People do not buy Bitcoin with the intention of spending it. For me, it's still not a well-established currency in the sense that it's more of a long-term investment or something we might want in the future "Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, said as much.
El Salvador, the first country to use bitcoin as legal cash, is experiencing technical difficulties with its digital wallet, which is causing delays in signing up for the app.
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