AMC: US cinema accepts Bitcoin and other crypto
AMC: US cinema accepts Bitcoin and other crypto
Crypto

AMC: US cinema accepts Bitcoin and other crypto

By Stefania Stimolo - 16 Sep 2021

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The world’s largest cinema chain AMC Entertainment Holdings, Inc is ready to accept the likes of not only Bitcoin (BTC) but also Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). 

This was directly stated by AMC CEO Adam Aron on the company’s official Twitter channel:

“Cryptocurrency enthusiasts: you likely know @AMCTheatres 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 similarly will accept Ethereum, Litecoin and Bitcoin Cash”.

The US cinema chain based in Leawood, Kansas, is determined to enter into the crypto community for online payments for tickets and services, primarily with Bitcoin. 

Cinema and Bitcoin: the performance of AMC stock

Entertainment giant AMC had already announced last August that it would accept Bitcoin for online payments for tickets and services, only now expanding to include three other cryptocurrencies. 

AMC stock price record was on $60 in June

At the time, after AMC’s statement, the company’s stock had gained about 3%, causing its stock to also have a volatility typical of the crypto market. 

Now, however, looking at the chart of AMC Entertainment Holdings’ shares, the price seems to be $46 compared to the $52 recorded only last Monday. Down, yes, but not too bad, considering that over the past year, the ATH or All-Time High touched by AMC was $60 in mid-June. 

In any case, AMC is participating in what is being referred to as the mass adoption of Bitcoin, and with it the historical cryptocurrencies of ETH, LTC and BCH. Something that also other corporate giants in other sectors have already declared their intention to do. 

AMC and the mass adoption of Bitcoin and crypto

AMC intends to follow in the wake of those giants that are already ready to launch their own “crypto department”. PayPal, for example, only this summer 2021, formed a division of the team specifically for cryptocurrencies and launched its crypto exchange for customers in the UK. 

Within a week, with the hiring of Rick Hagen as CEO of Invest at PayPal (Invest is a still-unknown company), it is assumed that soon the online payments giant could open its own trading platform, perhaps involving cryptocurrencies. 

But in addition to AMC, PayPal and even Tesla, as of 7 September 2021, the country of El Salvador, which has legalized the use of Bitcoin, has led the likes of McDonald’s, Starbucks, Pizza Hut and Zara to test and accept BTC. 

 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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