AMC will accept Bitcoin payments by the end of the year

The big movie theater chain in the United States, AMC Entertainment announced last Monday that it will start accepting bitcoins as a form of payment when purchasing tickets for its theaters. They will also accept this type of payment on cinema-related products, namely drinks or popcorn.

Company CEO Adam Aron said at a conference that the cinema network will have systems ready to receive cryptocurrency as a form of payment by the end of 2021. Adam confessed to analysts on the conference call that it has been a great challenge to work with these new technologies but says that it is important for the company to always be at the forefront.

The company has already admitted that, in the future, it intends to deepen the bet on digital currencies, however, it has not yet said anything about the matter.

The CEO told CNN that it is being studied, “how else can AMC participate in this new and growing universe of cryptocurrencies.” Adding: “We are very surprised by the profitable business opportunities”.

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Bitcoin may not be the only cryptocurrency the company will accept in the long run, as Aron also noted that the company is exploring the possibility of allowing payment via other digital currencies.

For now, it remains to be seen whether the target audience of AMC theaters is interested in paying through bitcoin. Realizing this issue is critical to the project’s success.

Recall that Tesla had already announced plans to allow bitcoin transactions, but in mid-May, they stopped buying cars with digital payment due to concerns about how mining contributes to climate change. After this, CEO Elon Musk has already gone public saying that he is planning to introduce bitcoin as a form of payment.

Recently, with the popularity of bitcoin, more and more companies are thinking of introducing bitcoin as a form of payment, when it comes to larger amounts.

As of today, a Bitcoin costs about 47 thousand dollars.

Source: CNBC