There’s a big difference between a business accepting and keeping crypto, and accepting and then immediately changing to fiat

This was spurred by the tweet about AMC accepting crypto as payment soon and lots of people saying this was adoption, to the moon etc etc.

However, what wasn’t clear was what that means (to my knowledge). In terms of an indicator of adoption there is a massive difference between a company accepting a payment in crypto AND then keeping that crypto on the balance sheet vs accepting a payment in crypto and converting to fiat to keep on the balance sheet (as for example PayPal do when you can “buy using crypto”).

To my (admittedly cynical!) mind, the former is adoption whereas the latter is just a publicity move. Of course it raises the profile of the crypto but let’s not get too carried away.