- By the end of 2021, AMC aims to accept ether, litecoin, and bitcoin cash as payment for movie tickets and snacks, according to CEO Adam Aron.
- Aron stated in August that the theatre chain will have the technology in place to accept bitcoin by the end of the year.
- The meme-stock craze has sent AMC’s stock price up more than 2,000 percent so far in 2021.
AMC CEO Adam Aron stated on Wednesday that the movie theatre chain plans to accept ether, litecoin, and bitcoin cash as payment methods before the end of the year, in addition to bitcoin.
In August, Aron announced the company’s intention to take bitcoin at its US sites and said AMC was looking into further ways to join the crypto market.
In a tweet on Wednesday, he added, “Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept bitcoin for online ticket and concession payments by year-end 2021,”. “I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash.”
Many people on Twitter urged him to incorporate dogecoin in the mix. One brought up the bogus press release claiming that Walmart will accept litecoin payments, and asked Aron whether he was sure about the decision.
The most valuable cryptocurrency by market capitalization is bitcoin, which was the first token to be approved by AMC, but ether has risen in prominence as the ethereum network is appreciated for its smart contract capabilities. Litecoin and bitcoin cash, on the other hand, are less mainstream due to a lack of recognition among crypto aficionados.
Mike Novogratz, a billionaire and one of the most outspoken supporters of cryptocurrency, does not appear to be a lover of litecoin. He stated the Walmart tie-up made no sense to him at the SALT Conference on Tuesday. “I scratched my head – like, who would buy litecoin and why?”
Since becoming a Reddit favorite on Wall Street Bets, the community that became popular during January’s GameStop mania, AMC’s stock has risen more than 2,000 percent year to date. The corporation has taken advantage of the trend by selling more stock.
Bitcoin was recently trading at $47,800, up 0.6 percent. According to CoinDesk data, ether was up 4.9 percent to $3,600, litecoin was up 4.7 percent to $191, and bitcoin cash was up 0.6 percent to $640 on Thursday.