AMC Will Accept Bitcoin, Ethereum, Litecoin and Bitcoin Cash By End of Year
AMC, which recently announced it will have the information technology systems in place to accept Bitcoin as payment for movie tickets and concessions if purchased online at all of its U.S. theaters by the end of the year, is expanding its crypto payment options.
“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,” AMC CEO Adam Aron tweeted.
Apparently, the announcement didn’t go down well with some crypto enthusiasts, including one who replied:
“@CEOAdam and @AMCTheatres You could have effortlessly had millions of new supporters by accepting #Dogecoin. No reason not to when you literally accept Litecoin which is also based off BTC. Selling all my AMC stock to buy more $Doge. Ridiculous.”
In an earnings call last month, Aron said that he had learned more in the past 6 months about Blockchain and cryptocurrency than he learned about it in the entire decade before that — an increased knowledge, which has given him the confidence to accept Bitcoin, according to a transcript of the call.
“We also are in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe and we’re quite intrigued by the potentially lucrative business opportunity for AMC if we intelligently pursue further serious involvement with cryptocurrency, more detail will be shared publicly with you,” he added at the time.
Other companies — big and small — are also starting to accept cryptos as a form of payment. Tesla, for example, was one of the first big companies to do so. It reversed its decision a few months ago, however, due to concerns “about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” CEO Elon Musk said at the time.
Following the announcement, Ben Weiss, CEO of Bitcoin ATM CoinFlip, posted a letter to AMC on LinkedIn, which stated in part, “As a thank you for your contributions to the crypto community, we’d like to offer to install our ATMs across AMC Theatres locations at no cost.”
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