The AMC cinema chain will accept other cryptocurrencies with bitcoin

September 16 (Reuters) – AMC Entertainment Holdings Inc (AMC.N) boss Adam Aron said the movie chain will accept ether, bitcoin cash and litecoin alongside bitcoin for the purchase of banknotes, as cryptocurrencies were accepted by traditional investors and businesses.

“Cryptocurrency enthusiasts: You are probably aware that @AMCTheatres 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 it will do, we also expect us to similarly accept Ethereum, Litecoin and Bitcoin Cash, ”Aron said in a statement. Tweeter Wednesday.

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

Bitcoin and Ether prices fell slightly, while Litecoin rose 1.7%. Shares of AMC, one of the so-called “memes stocks”, fell about 1% in pre-market trading.

“While I don’t think this will result in parabolic moves for any of these coins, for me it is just another impressive step in the global adoption of crypto as a whole,” one user said. from the Reddit group. r / cryptocurrency which deals with digital currencies.

Many large US companies are entering the crypto movement even as concerns grow about the environmental impact as the “mining” of digital currencies consumes massive amounts of energy.

Analysts have also raised questions about the viability of daily use of cryptocurrencies.

“People don’t buy Bitcoin to spend it. For me, it’s still not a well-established currency in the sense that it’s more of an investment for the future or for something we might. want to have in the future, “said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

El Salvador, the first country to adopt bitcoin as legal tender, faces a number of technical issues in its digital wallet that are delaying registration for the app.

Reporting by Nivedita Balu, Sruthi Shankar, Devik Jain and Sabahatjahan Contractor in Bengaluru, additional; edited by Uttaresh. and Saumyadeb Chakrabarty

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