Cryptocurrency: Bitcoin, Ethereum, Litecoin, Bitcoin Cash to Be Accepted by AMC Theatres

Cryptocurrency is slowly gaining traction around the world as El Salvador became the first country to adopt Bitcoin as a legal tender.

Cryptocurrency: Bitcoin, Ethereum, Litecoin, Bitcoin Cash to Be Accepted by AMC Theatres

Cryptocurrency Bitcoin was recently adopted as legal tender earlier this month by El Salvador

Highlights
  • Cryptocurrency Bitcoin adoption in El Salvador got off to a bumpy start
  • Salvadoran President Bukele said Chivo was not available on platforms
  • Bukele used his Twitter account to press online stores to stock the app

AMC Entertainment CEO Adam Aron said AMC Theatres will accept Bitcoin for online ticket and concession payments, and similarly accept other cryptocurrencies like Ethereum, Litecoin, and Bitcoin Cash.

"Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and 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," Aron tweeted. Bitcoin price in India stood at Rs. 37.52 lakhs while Ethereum price in India stood at Rs. 2.82 lakhs, Litecoin price in India stood at Rs. 14,810, and Bitcoin Cash price in India stood at Rs. 47,100.

Bitcoin was recently adopted as legal tender earlier this month by El Salvador. However, the world-first move was beset by teething problems, as an angry protest by mistrustful citizens, technological glitches, and a dip in the cryptocurrency clouded the rollout.

The bold experiment got off to a bumpy start when shortly after midnight, Salvadoran President Nayib Bukele complained the government-backed Bitcoin app was not available on various Internet platforms including Apple and Huawei.

Bukele used his Twitter account to press online stores to stock the app, or digital wallet, known as Chivo, and Huawei later began making it available. But when the app proved unable to cope with user registrations, the government unplugged it in order to connect to more servers and increase capacity.

Still, as the app began appearing on more platforms, Bukele was by afternoon retweeting videos posted on social media with people making payments using Bitcoin at retailers in El Salvador including McDonald's and Starbucks. Starbucks' El Salvador unit said it was accepting Bitcoin for purchases at its restaurants, drive-through facilities or to go.

© Thomson Reuters 2021


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