It seems like more and more merchants, as well as vendors, are accepting Bitcoin. In the latest development, the largest movie theatre chain in Thailand, Major Cineplex will start accepting cryptocurrency payments from the consumers. These will be accepted for not just the movie tickets but the associated services like buying popcorn as well. This will be a huge boost for the cryptocurrency market and also for the investors.
The Largest cinema operator in Thailand:
Major Cineplex was started in 1995. Currently, it has 143 theatres across the island. Out of these, approximately 43 are in the Bangkok area. The group also has screens in Cambodia as well as Laos. The current numbers of screens are 678. The group is planning to expand these to 1000 by the year 2020.
With such a large business accepting Bitcoin, the smaller vendors will also start accepting Bitcoins and other cryptocurrencies pretty soon. This will be a huge boost for the cryptocurrency. Another advantage is that the people will become more and more aware of cryptocurrencies as they start using it for daily transaction and as vendors start accepting it.
Cryptocurrency regulation in Thailand:
Last month, SEC of the island announced that 7 cryptocurrencies can be traded in the cryptocurrency exchanges across the country. These include most of the popular ones like Bitcoin, Ethereum, Ethereum Cash, Bitcoin Cash, Litecoin, Ripple, and XLM. Thus, after this ruling cryptocurrency exchanges have gained a lot more credibility. This is one of the main reasons why the businesses are also accepting cryptocurrencies.
It remains to be seen whether any of the other countries will be following suit or not. This is a very positive move for Bitcoin. As more and more businesses start accepting Bitcoin, it will become easier for the cryptocurrency enthusiasts to use them for day-to-day expenses. When they are able to use them for day to day expenses, automatically the value of Bitcoin as well as other cryptocurrencies will increase significantly. This is one of the main reasons why cryptocurrencies like Bitcoin hold such a lot of promise. In addition to that, with increased usage, the cryptocurrencies will surely gain more and volume as well as value.
Thus, this positive move will impact the entire cryptocurrency world rather than just impacting the cryptocurrency prices in Thailand. Any increase in volume will impact the cryptocurrencies positively.
