Cryptocurrency is gaining popularity, and many are pushing companies to accept it as a legitimate form of payment. A few months ago, AMC Theaters announced it would start taking cryptocurrency towards the end of 2021, and now they’ve made good on that announcement.
Estimated reading time: 2 minutes
Adam Aron, the CEO of AMC Theaters, made the official announcement via Twitter. He not only announced cryptocurrency acceptance, but also AMC will accept various digital wallet payments.
Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please…Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, google Pay, and PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next.Adam Aron via Twitter
AMC almost went bankrupt due to the pandemic last year, but it was saved in part thanks to an army of day traders on Reddit and Twitter that sent its stocks soaring by around 2,300 percent. Aron fully embraced the company’s status as a meme stock and told investors in an earnings call earlier this month that AMC is exploring the creation of its own cryptocurrency.
AMC plans to make a foray into the world of NFTs, as well, and is in talks with Hollywood studios to create non-fungible tokens related to major films. During the call, Aron said that the theater chain is also looking into accepting Shiba Inu tokens, but he has yet to announce if it can add the cryptocurrency to its payment options.Engadget
As more companies start to take cryptocurrency as a form of payment, we should expect the value of those currencies to trend upward. Those who invested in crypto early on have done very well if they held on to the investment.
What do you think of AMC accepting crypto for theater tickets? Please share your thoughts on any of the social media pages listed below. You can also comment on our MeWe page by joining the MeWe social network.
Last Updated on November 24, 2021.