AMC Will Also Accept Ethereum, Litecoin And Bitcoin Cash Alongside Bitcoin: CEO

AMC Will Also Accept Ethereum, Litecoin And Bitcoin Cash Alongside Bitcoin: CEO

Movie theatre chain AMC Entertainment Holdings Inc. AMC will accept other cryptocurrencies such as Ethereum ETH/USD, Litecoin LTC/USD and Bitcoin Cash BCH/USD in addition to Bitcoin BTC/USD for online ticket and concession payments.

What Happened: AMC Entertainment CEO Adam Aron took to Twitter to announce the company’s decision.

See Also: How To Buy Ethereum

AMC Entertainment said in August that it will begin accepting Bitcoin as payment for movie tickets and concessions by the end of this year.

The company’s move at that time had evoked mixed reactions from cryptocurrency fans and experts on Twitter, with supporters of Dogecoin DOGE/USD asking whether they would be able to pay in the meme cryptocurrency.

Why It Matters: AMC’s expansion into Ethereum and other cryptocurrencies highlights the increasing relevance of cryptocurrencies in mainstream circles as an investment option and in day-to-day activities.

Companies such as MicroStrategy Inc. MSTR and Twitter Inc. TWTR CEO Jack Dorsey’s financial payments company Square Inc. SQ are heavily invested in Bitcoin.

AMC Entertainment’s year-to-date gains stand at an impressive 2,109.4% as the company continued to see high interest from retail investors.

Price Action: AMC Entertainment shares closed almost 1% lower in Wednesday’s regular trading session at $46.84 and further declined 0.7% in ther after-hours session to $46.50.

Ethereum is up almost 6.4% during the past 24 hours, trading at $3,614.54 at press time, while Litecoin is up 5.3% during the 24-hour period to $190.75. Bitcoin Cash is up almost 0.8% during the past 24 hours to $643.63.

See Also: SEC To Publish Its Report On GameStop Short Squeeze Soon, Says Chair Gary Gensler

Photo: Courtesy of Andreas Praefcke via Wikimedia

Posted In: Adam AronBitcoinBitcoin CashEthereumLitecoinMeme StocksstonksCryptocurrencyNewsMarkets

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