Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Theater chain AMC to accept other cryptocurrencies along with bitcoin

09/16/2021 | 07:41am EST
FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken

Sept 16 (Reuters) - AMC Entertainment Holdings Inc boss Adam Aron said the theater chain would accept ether, bitcoin cash and litecoin alongside bitcoin for ticket purchases, as cryptocurrencies gain acceptance among mainstream investors and companies.

"Cryptocurrency enthusiasts: you likely know @AMCTheatres 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," Aron said in a tweet https://twitter.com/CEOAdam/status/1438298684266098688 on Wednesday.

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

Prices of bitcoin and ether were marginally down, while litecoin was up 1.7%. AMC's shares, one of the so-called "meme stocks," were down about 1% in premarket trading.

"While I don't think this is going to make any of these coins do any parabolic movements as a result, to me this is just another awesome step in the global adoption of crypto as a whole," said one user in the Reddit group r/cryptocurrency that discusses digital currencies.

Many big corporations in America are jumping on to the crypto bandwagon even as concerns grow over the environmental impact since "mining" digital currencies consumes massive amounts of energy.

Analysts have also raised questions about the viability of day-to-day use of cryptocurrencies.

"People are not buying Bitcoin to spend them. For me, it's still not a nicely established currency in the sense that it's more of an investment for the future or for something that we may want to have in the future," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

El Salvador, the first country to have adopted bitcoin as legal tender, is facing a number of technical glitches in its digital wallet delaying signing up to the app. (Reporting by Nivedita Balu, Sruthi Shankar, Devik Jain and Sabahatjahan Contractor in Bengaluru, Additional ; editing by Uttaresh.and Saumyadeb Chakrabarty)


ę Reuters 2021
Latest news "Economy & Forex"
12:10aJapan service sector sentiment improves in Nov as COVID-19 cases ease
RE
12:05aVisa launches crypto advisory service for financial institutions, merchants
RE
12/08India's central bank leaves rates on hold amid Omicron risks
RE
12/07METI MINISTRY OF ECONOMY TRADE AND INDUSTRY OF : The Regional Comprehensive Economic Partnership (RCEP) Agreement will enter into force in South Korea
PU
12/07Malaysia court upholds guilty verdict for former PM Najib
RE
12/07HUAWEI TECHNOLOGIES : Indonesia's Luhut Invites Huawei to Enhance Collaboration in Smart Future and New Energy
PU
12/07Japan to give massive tax breaks to companies that lift wages - draft
RE
12/07Indian house prices to lag inflation; affordability to improve
RE
12/07Gold gains as dollar, yields ease; U.S. inflation data in focus
RE
12/07Weibo shares fall 6% below issue price on Hong Kong listing
RE
Latest news "Economy & Forex"