AMC Entertainment (NYSE: AMC) is now accepting Bitcoin, Ethereum, Bitcoin Cash and Litecoin. These four popular cryptos are joined by Apple Pay , Google Pay and PayPal as the theater chain goes digital for payments. The news was revealed by AMC CEO Adam Aron in a tweet.
Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB
— Adam Aron (@CEOAdam) November 12, 2021
AMC had revealed its intent to accept crypto earlier this year. In September 2021, AMC stated:
“At AMC our recent innovations include showing alternative content at our theatres such as exclusive musical experiences, and WWE and UFC programming; our commitment to accept cryptocurrency starting with Bitcoin, Ethereum, Litecoin and Bitcoin Cash before year-end, as well as exploring the possibility of accepting Dogecoin; and our unprecedented national multi-media marketing campaign featuring Academy Award winner Nicole Kidman. This all comes at a time when we believe that the upcoming movie slate is incredibly exciting, and studios currently seem to be re-committing to an exclusive theatrical window.”
AMC operates 22 of the 50 highest-grossing theatres in the United States, including four of the top five. The company is also the largest movie exhibition company in the United States, the largest in Europe, and the largest throughout the world with approximately 950 theatres and 10,500 screens across the globe.
The shares in the company have also joined some of the other meme stocks in popularity for retail investors. The company has endured a challenging time with the COVID lockdowns which are now loosening up.