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AMC to accept a few more coins
AMC theater chain has announced that it will start accepting w more cryptocurrencies in addition to Bitcoin by the end of the year. These cryptocurrencies would be accepted at over 500 of their locations across the United States.The CEO of the company Adam Aron said Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) would now be accepted alongside Bitcoin. The theater chain operator will start accepting these cryptocurrencies by the end of the year.
AMC announced last month that it would start accepting BTC before the end of 2021. At the time, the CEO said, "We are also in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe, and we are quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrencies."
People are not buying BTC to spend
Bitcoin has been used more as an investment vehicle than a currency by most people, despite El Salvador recently making Bitcoin a legal tender. Ipek Ozkardeskaya, senior analyst at Swissquote Bank, pointed out that most people buy BTC to hold as an asset and not as a currency to hold."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," he added.
Despite that, an increasing number of companies are adopting Bitcoin as a payment option.
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