The AMC theater chain will accept other cryptocurrencies along with bitcoin

September 16 (Reuters) – AMC Entertainment Holdings Inc. (AMC.N) chief Adam Aron said the theater would accept ether, bitcoin cash and litecoin alongside bitcoin for ticket purchase, as cryptocurrencies gain acceptance among major investors and companies.

“Cryptocurrency enthusiasts: you probably know that @AMCTheatres has announced that we will accept Bitcoin for online tickets and concession payments until the end of 2021. Today I can confirm that when we do, we also expect to accept similarly Ethereum, Litecoin and Bitcoin Cash, “Aron said in a tweet Wednesday.

The company said in August that it would begin accepting Bitcoin, the most popular cryptocurrency, later this year.

Bitcoin and ether prices fell marginally, while litecoin rose 1.7%. Shares of AMC, one of the so-called “meme stocks,” fell about 1% in premarket trading.

“While I think this will not cause any of these currencies to make any parabolic movement as a result, for me this is just an incredible step in the global adoption of the crypto as a whole,” said a user of the Reddit group r / cryptocurrency dealing with digital currencies.

Many large American corporations are jumping into the crypto, even as concerns about the environmental impact grow, as the “mining” of digital currencies consumes large amounts of energy.

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

“People don’t buy Bitcoin to spend it. For me, it’s still not a very 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,” Ipek said. Ozkardeskaya, senior analyst at Swissquote Bank.

El Salvador, the first country to adopt bitcoin as a legal tender, faces several technical problems in its digital portfolio that delay application registration.

Reports from Nivedita Balu, Sruthi Shankar, Devik Jain and Sabahatjahan Contractor in Bengaluru, additional; edition by Uttaresh.and Saumyadeb Chakrabarty

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