AMC Theaters is one of the most famous film companies and movie theaters in the United States and Canada. And although they have been part of several controversies due to the purchase of the American company, by a Chinese firm in 2015, now the good news is coming. Well, the managers announced that Bitcoin would now be accepted to pay for movie tickets in the different cinemas of the company.
Now you can buy your movie tickets with Bitcoin
AMC Entertainment CEO Adam Aron shared on Monday’s quarterly earnings call that the company is setting up IT logistics to support Bitcoin payments. Likewise, cryptocurrencies are expected to be an accepted payment method in AMC theaters before the end of the year.
It is worth mentioning that Aron pointed out in the earnings call that the chain would support Bitcoin in all theaters in the US This for online payments of both movie tickets and concessions.
In this way, the measure brings together two notable investments that have made headlines throughout the year. Bitcoin, of course, is known as the leading asset behind the broader cryptocurrencies, and AMC, a company whose stock was pooled with companies like GameStop for all the Reddit WallStreetBets hype this year.
Finally, AMC shares rose more than 1,000% during the retail revitalization. This earnings report this week showed figures for AMC that were better than expected, including revenue that beat analysts’ expectations.
Aron also expressed optimism that the fourth quarter could be the quarter in which the company finally returns to profit.
AMC shares surged more than 3% thanks to Bitcoin
Now that AMC will join a growing list of publicly traded companies that are implementing Bitcoin in their business in one form or another, this growth is not surprising.
Of course, fintech and adjacent companies, such as Square and MicroStrategy, have been adding Bitcoin to their balance sheet. PayPal has also been more crypto-friendly recently. In recent weeks, Musk hinted that Tesla could own up to 42,000 BTC.
The auction house Sotheby’s has also been accepting cryptocurrencies lately, and also listing NFTs. Also joining the ranks are more non-traditional companies, including Microsoft’s Xbox and Starbucks, which partnered with Bakkt to explore crypto payments.
Could AMC be opening the door for more companies to integrate cryptocurrency payments in the US?