AMC Theatres will begin taking Bitcoin as payment for movie tickets, according to the company’s CEO, who made the announcement during the company’s revenue meeting on Monday.
AMC, the largest movie theatre chain in the United States, has joined a growing list of businesses that are now accepting Bitcoin as a payment method. Although Bitcoin and other cryptocurrencies have been viewed as a sound investment for some time, it has been more difficult to use them as cash.
However, with their prices reaching new highs in 2021, institutional investors are flocking in, and more businesses are following suit.
During AMC’s earnings call on Monday, CEO Adam Aron stated that by the end of 2021, the company would begin taking Bitcoin as payment for tickets bought online and that because these are online sales, they will be relevant to all of the company’s theatres across the United States.
Many businesses have been testing bitcoin acceptance in limited markets, but AMC will introduce it to all of its theatres.
Aron stated on the call that the movie theatre network will implement IT infrastructure to take Bitcoin by the end of 2021.