American movie theater chain AMC, says it would soon start accepting cryptocurrencies as payment for products and services rendered. AMC first made this announcement in an earnings report in August. The company announced that by the end of 2021, customers would be able to pay for online movie tickets and concession purchases using crypto assets.
The greenlit digital currencies are Bitcoin, Ethereum, and Litecoin. A notable omission from AMC’s list of accepted digital currencies is Dogecoin. This drew criticism from several Twitter users, including the popular meme token’s founder, Shibetoshi Nakamoto.
Notwithstanding, there was positive reception to AMC’s earlier announcement on August 9, which saw the theater chain giant increase its price by $3,000 shortly thereafter. AMC CEO, Adam Aron, tweeted a confirmatory statement to the news. It read:
“Cryptocurrency enthusiasts: you likely know AMC Theaters has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we will similarly accept Ethereum, Litecoin, and Bitcoin Cash.”
AMC revealed it arrived at this decision due to popular demand from clients. The company is scaling up on its array of payment methods and also looks set to add more down the line. It plans to introduce Google Pay and Apple as additional payment methods in the near future.
AMC stock is one of the popular meme stocks of 2021. However, due to the protracted lockdown, the company’s stock value plummeted, as most theaters shut down. AMC now looks to recoup and regrow its capital base by embarking on a slew of business moves.
Image Credits: Pixabay
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