AMC Cinemas Will Accept Cryptocurrency For Movie Tickets
AMC Theatres will begin accepting Bitcoin as payment for movie tickets, according to the company's CEO, who made the announcement during the company's earnings call on Monday. AMC, the largest movie theater chain in the United States, has joined a growing number of businesses that are now accepting Bitcoin as a form of payment. Although Bitcoin and other cryptocurrencies have been viewed as a sound investment for some time, it has been more difficult to use them as currency. However, with their values reaching new highs in 2021, institutional investors are flocking in, and more businesses are following suit.
During AMC's earnings call on Monday, CEO Adam Aron stated that by the end of 2021, the company will begin accepting Bitcoin as payment for tickets purchased online, and that because these are online purchases, they will be applicable to all of the company's theaters across the United States. Many brands have been testing cryptocurrency acceptance in small markets, but AMC will bring it to all of its theaters.
On the call, Aron said that the movie theatre chain will set up the IT systems in place to accept Bitcoin from the end of 2021. This follows Quiznos' announcement that it will accept Bitcoin for sandwiches in test markets, as well as Burger King Brazil's announcement that it will accept payments in Dogecoin, the Shiba Inu-inspired meme currency, but only for the dog treats it sells.
Tesla had previously begun accepting Bitcoin payments, but the process was halted in mid-May. Between January and April, the price of Bitcoin increased dramatically, reaching an all-time high.