America’s biggest movie theatre AMC Entertainment said it will start accepting bitcoin as payment for movie tickets and concessions by the end of the year, the company’s CEO Adam Aron said.
The CEO Adam Aron made an announcement during the company’s second-quarter earnings call on Monday afternoon. The movie theater chain will have an IT system in place to take cryptocurrency as payment by the end of 2021.
The CEO also said that AMC will also begin accepting Apple Pay and Google Pay payments by the end of this year. The company has 593 theaters in the U.S. and 335 International locations. However, Adam does not detail how bitcoin transactions would work or what the purchasing process would be like for customers. The company – the first major chain to accept cryptocurrency as payment.
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It’s not clear how bitcoin, worth $45,947 at current prices- could pay for a night out at the movies. Aron also reported strong demand for buying movie tickets with crypto from the firm’s customers.
During the Reddit-driven retail trading frenzy, earlier this year, so-called “meme stocks” like GameStop and AMC soared in value. AMC also announced the opening of a dozen new theaters in the U.S., Europe, and the Middle East in 2021.
