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Afraid of going bankrupt, AMC starts accepting cryptocurrencies

AMC Entertainment Holdings, the world’s largest movie theater company, has announced that it will start to accepting cryptocurrencies as an alternative to bringing people into movie theaters again.

Afraid of going bankrupt, AMC starts accepting cryptocurrencies

Afraid of going bankrupt, AMC starts accepting cryptocurrencies

According to AMC CEO Adam Aron, it doesn’t matter how users pay to see a movie in theaters, as long as they fill the theaters again.

The initiative stems from the fear that AMC will share the same fate as Blockbuster. According to Aron, the company is looking to technology as a new form of income.

As announced by the executive, the movie theater chain will allow tickets to be purchased online using four cryptocurrencies. In addition to Bitcoin (BTC), will be accepted: Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH):

“Cryptocurrency enthusiasts: you probably know that AMC Theaters has announced that we will accept Bitcoin for online tickets and concession payments by the end of the year 2021. I can confirm today that when we do, we also hope to accept Ethereum, Litecoin and Bitcoin in the same way. Cash.”

Read more:

  • AMC will allow bitcoin payments for tickets in their cinemas by the end of this year
  • Black month for AMC ‘meme stock’: it lost almost half of its value in July
  • AMC will offer free popcorn and exclusive sessions to all retail investors
  • In August, Aron announced that AMC would accept BTC for online purchase of US theater tickets.

    At the time, he said that many of the network’s new shareholders were “very enthusiastic about the cryptocurrency”.

    In addition, Aron noted that his knowledge of cryptocurrencies grew exponentially after joining Centricus’ board:

    “I’ve had to learn more in the last six months about blockchain and cryptocurrency than in the entire previous decade.”

    Also according to him, this knowledge gave him confidence to implement payments with cryptocurrencies at AMC.

    “All this made me more confident to implement payments with cryptocurrencies. And you can be assured that we will have the most modern information technology systems ready to accept Bitcoin as payment for movie tickets”, he concluded.

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