AMC Theatres Now Officially Accepting Bitcoin Payments

HIGHLIGHTS

  • “As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… bitcoin, ethereum, bitcoin cash, litecoin,” Adam wrote on Twitter. 
  • He also said that dogecoin would be the next cryptocurrency to be added. In October, AMC partnered with BitPay to accept doge as payment for gift cards.
  • AMC operates 593 theatres in the United States and 335 in other countries.

On the evening of November 11th, Adam Aron, CEO of AMC Theatres, revealed through Twitter that the chain now accepts Bitcoin for online payment.

The news fulfils a promise made at a shareholder call in August 2021, when chairman and CEO Adam Aron stated that the company, which is best known for operating over 1,000 movie theatres around the world, would accept Bitcoin for tickets and refreshments purchased online.

Aron also said at the time that the theatre company, which has 593 U.S. locations and 335 overseas locations and has become a favourite of retail investors in 2021, was looking at “how else AMC can participate in this new burgeoning cryptocurrency universe.”

THEATRE ACCEPTS OTHER CRYPTOS TOO.

AMC Theatres now accepts Bitcoin, Ethereum, and other cryptocurrencies, as well as Apple Pay, Google Pay, and PayPal.

The Theatre giant joined a growing number of mainstream corporations in the Bitcoin market on Thursday, including Square, MicroStrategy, and Tesla, who have all purchased and now hold Bitcoin as a treasury reserve asset. It’s unknown whether or not AMC intends to keep any Bitcoin in reserve, and if so, to what level.

While accepting cryptocurrencies other than Bitcoin for payment may be seen as a negative by some Bitcoin purists, it is unquestionably better for mainstream acceptance than businesses that refuse to accept Bitcoin at all.

Digging on to the new payment option, Journalist Susan Li Wrote on Twitter that, “Lets be real, very few use Bitcoin to pay for things.”

The next digital currency allowed for online payments at AMC will be Dogecoin (DOGE), a popular humour cryptocurrency that has soared 9,000 percent in the last year, according to Aron. After his 140,000-voter Twitter poll pushed the corporation to accept the cryptocurrency as payment, he had stated that AMC would support DOGE payments for tickets.

Aron later held a similar survey for Shiba Inu (SHIB), another popular meme cryptocurrency that, in late October, surpassed Dogecoin in market valuation.

Time will tell if AMC Theatres’ Bitcoin approach improves in tandem with its knowledge and experience with the currency.

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