AMC theatres to accept ETH, LTC and BCH, CEO Adam Aron says

By Raffaele Redi

The owner of Odeon announced AMC online tickets could be paid in bitcoin by the end of 2021

AMC IMAX logo above the entrance and box office in downtown San Francisco                                 
The meme stock cinema could open up to cryptos soon – Photo: Shutterstock
                                

AMC CEO, Adam Aron, said the meme stock cinema will be accepting Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) coins, together with the lead crypto, by the end of 2021.

“Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket 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,” said Aron on Twitter.

The initial sceptic reaction after the Walmart fake news

The news was greeted with some scepticism from the crypto currency fans and investors who asked Aron for confirmation. His tweet had been preceded a few days early with a false announcement about retail giant Walmart accepting LTC, which went viral prompting a bullish spike for the crypto followed by a fall down to earth after the US retailer denied the story.

“Walmart was the subject of a fake news release issued on Monday 13 September that falsely stated Walmart announced a partnership with Litecoin (LTC). Walmart had no knowledge of the press release issued by GlobeNewswire, and it is incorrect. Walmart has no relationship with Litecoin,” stated the company.

The reaction of the markets

While Bitcoin investors already priced the news, ETH adoption as a way of payment by AMC prompted a bullish spike on ether and litecoin prices.

At the time of writing, (around 11:30 BST) the Ethereum was trading up by 6% at 3,612.12 with a market cap of $424.8bn and a trading volume of 19.4 higher 12% in the last 24 hours. Litecoin witnessed the same trend, trading in the last 24 hours, 6% higher at $191.16 with a market cap of $12.8bn and a trading volume of $3.7bn, around 13% higher.

On the other hand, BCH was not in line with the other cryptos, as it was standing at $640.36 trading 0.3% lower in the last 24 hours. AMC Entertainment Holdings Inc was finally 1% down on the NY stock exchange trading at $46.84.

ETH/USD price history

Date Close Change Change(%) Open High Low
Nov 29, 2022 1193.60 26.55 2.27% 1167.05 1195.64 1158.28
Nov 28, 2022 1167.04 -26.14 -2.19% 1193.18 1198.74 1150.50
Nov 27, 2022 1193.17 -11.82 -0.98% 1204.99 1222.69 1188.49
Nov 26, 2022 1205.03 6.69 0.56% 1198.34 1234.05 1195.61
Nov 25, 2022 1198.35 -4.23 -0.35% 1202.58 1205.94 1169.66
Nov 24, 2022 1202.65 19.28 1.63% 1183.37 1216.42 1179.39
Nov 23, 2022 1183.35 45.31 3.98% 1138.04 1189.36 1126.32
Nov 22, 2022 1138.11 32.43 2.93% 1105.68 1141.38 1073.75
Nov 21, 2022 1105.62 -35.14 -3.08% 1140.76 1145.01 1078.20
Nov 20, 2022 1140.64 -76.79 -6.31% 1217.43 1225.95 1131.03
Nov 19, 2022 1217.27 5.45 0.45% 1211.82 1232.54 1196.76
Nov 18, 2022 1211.92 11.79 0.98% 1200.13 1232.71 1198.39
Nov 17, 2022 1200.21 -15.57 -1.28% 1215.78 1227.61 1181.10
Nov 16, 2022 1215.76 -36.04 -2.88% 1251.80 1267.09 1185.10
Nov 15, 2022 1252.06 10.85 0.87% 1241.21 1289.18 1231.70
Nov 14, 2022 1241.22 21.60 1.77% 1219.62 1288.67 1169.14
Nov 13, 2022 1219.54 -35.25 -2.81% 1254.79 1271.82 1199.46
Nov 12, 2022 1254.81 -30.37 -2.36% 1285.18 1289.63 1237.23
Nov 11, 2022 1285.10 -10.26 -0.79% 1295.36 1307.54 1197.94
Nov 10, 2022 1295.31 195.55 17.78% 1099.76 1349.28 1084.35

Further reading: Crypto market update: BTC increases to $47,000

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