AMC To Support Bitcoin Payments For Movie Tickets

AMC Entertainment announced on Monday that all of its U.S. theatres will begin taking bitcoin as payment for movie tickets and refreshments purchased online.


Ceo of amc theatres adam aron
CEO of AMC theaters, Adam Aron

AMC Entertainment said during a quarterly results call with investors on Monday that it will soon have technology in place at all of its U.S. theatres that will allow customers to buy tickets or concessions online using bitcoins.

By the end of the year, the theatre chain plans to embrace Google Pay and Apple Pay at all of its locations in the United States.

According to CEO Adam Aron, AMC Entertainment is “in the preliminary stage” of evaluating ways to enter the cryptocurrency market.

Bitcoins were added as a payment option for AMC because of Aron’s role as a board member of acquisition firm Centricus, which is in the process of buying blockchain technology startup.

“I’ve had to learn more in the past 6 months about blockchain and cryptocurrency than I learned about it in the entire decade before that,” Says aron

WHAT TWITTER SAYS?

On Monday after getting the news, every individual blasted on twitter. Spreading the news of AMC soon to accept “bitcoin” payments and after that bitcoin surged to $46000.

Investor and entrepreneur Anthony Pompliano also reacted to the story and posted a tweet regarding the news.

Another user represented the situation in a funny way that in the next meeting every crypto whale will sit together with AMC CEO Adam Aron to discuss bitcoin.

The news was broadcasted all over the world. Here’s a snap of it.

AMC HAS RAISED OVER $2 BILLION ON THIS JULY

On March 31, AMC had $1 billion in liquid assets, according to the company’s management. As a result of the 14-month race against the Coronavirus, this company is in an unpleasant position. Liquidity was the highest in AMC’s history of 101 quarters.

But, curiously on July the company’s all total liquidity raised over $2 Bilion and still counting.

The CEO later announced the news on twitter.

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