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AMC to start accepting BTC payments in the US this year
AMC Entertainment, the leading movie theater chain in the United States, announced yesterday that it would start accepting Bitcoin payments by the end of the year. The company made this known during their second-quarter earnings call with investors yesterday.According to the AMC chairman and CEO Adam Aron, the company is in the early stages of exploring how to integrate cryptocurrency payments. The CEO said, “We are also in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe, and we are quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrencies.”
The company will accept Bitcoin payments for tickets and concessions starting this year. However, it will start from the United States, where it currently operates 593 theaters. AMC Entertainment could expand the Bitcoin payment feature to its other 335 international locations.
Bitcoin’s adoption is steadily growing
The cryptocurrency market has been in a bearish trend since Bitcoin May, with Bitcoin dropping to the $30k level for most of June and July. However, prices are slowly recovering, and Bitcoin is now trading around the sub-$45k level.Despite the prices down from their all-time highs, the adoption of Bitcoin and other cryptocurrencies has continued growing. AMC is one of the top-performing stocks this year, thanks to the Reddit-driven retail trading frenzy it experienced earlier this year.
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