World’s Largest Movie Theater Network Will Accept Bitcoin as Payment

AMC, the world’s largest movie theater chain, will start accepting Bitcoin as a means of payment in 2021.

The revelation was made by the company’s CEO, Adam Aron, during the release of results to the market last Monday (9). Thus, Bitcoin is associated with another publicly traded company in the United States, listed on the NYSE.

In early 2021, alongside Gamestop, AMC shares gained strong momentum from Reddit’s investor communities, particularly the group called WallStreetBets. Even the Dogecoin cryptocurrency appreciated with possible shares from this group, which led to the shares of GME and AMC being removed from RobinHood.

Anyway, that episode may have aroused a feeling of innovation in the company with its new investors.

AMC will accept Bitcoin as a payment method as early as 2021

With AMC Entertainment Holdings Inc. shares up 1,581.59% year-to-date, the company released its 2021 second quarter result last Monday.

After a busy start to the year, with the reinforcement of unknown investors in their roles, the company now wants to profit, seeking to find opportunities in the financial market to do so.

One of the novelties then is Bitcoin, which will be accepted in AMC cinemas as early as 2021, for payment of tickets at the company’s stores. According to Bitcoin Magazine, even the payment of concessions will be possible with the novelty, that is, popcorn, sweets and drinks at the entrance of the establishments will be purchased with the cryptocurrency.

The AMC CEO also stated that he is studying the cryptocurrency market to find more profit opportunities for his business. Even so, only Bitcoin will be accepted at this initial moment of the company’s entry into the sector, although it has not been disclosed how this will happen.

Despite having about a thousand movie theaters around the world, the novelty should be restricted to the United States at the beginning.

Various brands and companies accepting Bitcoin

AMC has not made it clear whether it will buy Bitcoin as a reserve, as did Tesla, MicroStrategy and Square, making clear for now only the possibility of a means of payment.

Even so, she joins several companies around the world that have started working with Bitcoin. In recent days, for example, luxury brand Philipp Plein has announced that it will accept several cryptocurrencies as payment, including Bitcoin.

In addition, NewEgg, a kind of “United States Kabum”, has also started to work with this technology.

In Latin America, the expectation is that the Free Market, through Mercado Pago, will start accepting Bitcoin, which can happen at any time.