American Multi-Cinema (AMC) to Support Ethereum and Other Cryptocurrency Adoption

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American Multi-Cinema (AMC) to Support Ethereum and Other Cryptocurrency Adoption
American Multi-Cinema (AMC) to Support Ethereum and Other Cryptocurrency Adoption

AMC theatre, the world’s largest cinema chain, has announced that it will accept more payments in cryptocurrency by the end of 2021. Supported cryptocurrencies include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This marks another major launch of the cryptocurrency market that will do well in 2021.

AMC Expands Crypto Payment Options

The company’s CEO Adam Aron posted this on Twitter on September 16, stating that by the end of the year, cryptocurrencies could be used to pay for online airline tickets and preferred payments. AMC announced that it will be accepting Bitcoin with a lot of noise in August 2021.

This year, Tesla accepted Bitcoin as payment for its electric cars, but it has been on hold since then. PayPal has also expanded into the cryptocurrency space, stepping up its support for the market.

The news that AMC Theaters is accepting payments in cryptocurrency will please investors as the chain is a well-known brand with some influence. The company also recently attracted public attention for its support from Reddit’s Wallstreetbets community. While support isn’t as strong as it is for GameStop, these retail investors have helped drive AMC’s share price higher.

In short, accepting crypto payments should generate continued interest among communities who already understand crypto. Incidentally, GameStop also announced its entry into the blockchain and crypto space when it announced it would develop a range of NFTs.

Ethereum and Other Cryptocurrencies Adoption are Growing Steadily

In terms of adoption this year, the crypto world has been influenced by a lot of good news. The support for crypto payments varies and companies from all walks of life have adopted this measure. The signs at the retail level are very optimistic.

The tourism industry can benefit a lot from Bitcoin payments – a luxury hotel in Switzerland has already provided convenience for this. Switzerland is known for its centre of crypto companies and entrepreneurs, with more than 85,000 merchants supporting crypto payments.

Other established companies that support crypto payments include Lloyds Auction House. Auction houses are very interested in blockchain technology, especially NFT. Many of them ran auctions for NFT and sold them for millions of dollars.