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AMC, The Biggest Cinema Chain Worldwide With 1004 Theaters, 11,041 Screens To Start Accepting Ethereum, Bitcoin Cash And Litecoin

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AMC CEO, Adam Aron has taken to Twitter to announce that the largest US theater chain will begin accepting Ethereum, Litecoin, and Bitcoin Cash in addition to Bitcoin.


 

 

As reported by TheCryptoBasic, AMC Entertainment announced on August 10, that it will accept bitcoin for payment for movie tickets and concessions at all AMC U.S. theatres. Back then, Adam Aron also said that AMC would consider other crypto payment options other than BTC. Today AMC announced support for ETH, LTC, and BCH.

It is not clear how AMC will enable Bitcoin payments along with ETH, BCH and LTC. Reddit meme stock mania may have influenced the company’s decision to move to crypto. Earlier this year Reddit fueled meme stock mania led to an increase in AMC stock after it became the target of short-sellers.

During the August earnings call, Aron said that AMC will also accept payments through Apple Pay and Google Pay by the end of the year.

 

AMC is the biggest cinema chain worldwide with 1,004 cinemas, and 11,041 screens. In March, the company was able to reopen its theaters in New York and California, which are its most lucrative markets.

A growing number of companies are accepting bitcoin and other cryptocurrencies as payment, including PayPal Holdings, and Square Inc. Earlier this year, Tesla Inc caused a sensation after announcing that it would accept bitcoin for payments, then halted those plans in May after CEO Elon Musk raised concerns about the effects of BTC mining on the global energy use.

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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