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
Oct 27, 2021 4279.65 148.33 3.59% 4131.32 4285.22 4117.14
Oct 26, 2021 4131.20 -89.60 -2.12% 4220.80 4298.71 4090.31
Oct 25, 2021 4220.77 138.64 3.40% 4082.13 4238.30 4068.24
Oct 24, 2021 4082.29 -85.16 -2.04% 4167.45 4186.95 3960.47
Oct 23, 2021 4167.97 196.12 4.94% 3971.85 4173.13 3937.03
Oct 22, 2021 3971.59 -81.99 -2.02% 4053.58 4171.38 3888.38
Oct 21, 2021 4053.67 -108.58 -2.61% 4162.25 4375.04 4007.53
Oct 20, 2021 4162.61 287.38 7.42% 3875.23 4169.99 3827.67
Oct 19, 2021 3875.22 131.12 3.50% 3744.10 3888.96 3730.71
Oct 18, 2021 3744.11 -104.12 -2.71% 3848.23 3896.09 3675.19
Oct 17, 2021 3848.29 19.45 0.51% 3828.84 3919.64 3701.94
Oct 16, 2021 3829.33 -40.32 -1.04% 3869.65 3969.17 3802.55
Oct 15, 2021 3869.49 78.21 2.06% 3791.28 3904.60 3733.39
Oct 14, 2021 3791.15 182.49 5.06% 3608.66 3829.32 3588.65
Oct 13, 2021 3608.43 119.36 3.42% 3489.07 3613.80 3411.06
Oct 12, 2021 3489.44 -53.27 -1.50% 3542.71 3549.94 3402.83
Oct 11, 2021 3542.79 127.60 3.74% 3415.19 3624.29 3370.68
Oct 10, 2021 3415.22 -160.50 -4.49% 3575.72 3605.67 3396.71
Oct 9, 2021 3575.71 11.40 0.32% 3564.31 3635.68 3537.86
Oct 8, 2021 3564.20 -24.85 -0.69% 3589.05 3672.47 3531.89

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

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