AMC Theater Group Accepts Bitcoin And Other Cryptocurrencies As Payment Instruments

JAKARTA - AMC Entertainment Holdings Inc (AMC.N) boss Adam Aron said his theater network would accept payments with ether, bitcoin cash and litecoin alongside bitcoin for ticket purchases. This is because cryptocurrencies are already gaining acceptance among mainstream investors and companies.

Cryptocurrency fans: You may know @AMCTheatres has announced that we will accept Bitcoin for online tickets and concession payments by the end of 2021. I can confirm today that when we do, we also hope that we will also accept Ethereum, Litecoin and Bitcoin. Cash," Aron said in a tweet on Wednesday.

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

Cryptocurrency enthusiasts: you likely know @AMCTheaters has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash . pic.twitter.com/uKcFyQotoJ

— Adam Aron (@CEOAdam) September 16, 2021

Bitcoin and ether prices fell slightly, while litecoin was up 1.7%. Shares of AMC, one of the so-called "meme stocks", were down about 1% in premarket trading.

“While I don't think this will cause these coins to make a parabolic move as a result, to me this is simply a tremendous step in the overall global adoption of crypto,” said a user on the Reddit group r/cryptocurrency discussing digital currencies.

Many of America's major corporations are jumping on the crypto bandwagon even as concerns grow over the environmental impact as "mining" digital currencies consumes huge amounts of energy.

Analysts also raise questions about the feasibility of using cryptocurrencies in everyday life.

“People don't buy Bitcoin to spend it. To me, it's still not an 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 a legal tender, is facing a number of technical glitches in its digital wallet that are delaying registration to the app. But it's not impossible after going through that time they will be successful