AMC CEO Adam Aron said the movie chain plans to accept Ethereum, Litecoin and Bitcoin Cash cryptocurrencies for online ticket and concession purchases.
The announcement comes after Aron revealed during AMC’s second quarter earnings call that the company will accept the world’s largest cryptocurrency, Bitcoin, as an alternative form of payment for online purchases from here the end of the year.
“Cryptocurrency lovers: you probably know @AMCTheatres announced that we will accept Bitcoin for online ticket and concession payments by the end of 2021, âAron tweeted Wednesday evening. âI can confirm today that when we do, we also expect us to similarly accept Ethereum, Litecoin, and Bitcoin Cash. “
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Dogecoin is notably excluded from AMC’s list of accepted cryptocurrencies, which has drawn criticism from many Twitter users, including the founder of the popular meme token, Shibetoshi Nakamoto.
At the time of publication, Bitcoin has risen slightly, trading at around 47,000 per coin, according to Coindesk’s real-time price tracker. Meanwhile, Ethereum has jumped 6%, trading around $ 3,600 per coin, while Litecoin is up around 5%, trading at $ 191.65 per coin, and Bitcoin Cash is in. slightly higher, trading at $ 642.13 per coin.
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AMC’s decision to accept cryptocurrencies as an alternative payment method is part of a multi-step plan to go on the offensive after the company cut losses and increased total cash flow to an all-time high of over $ 2 billion.
Other steps AMC is taking include up to 10 new leases with existing movie locations, alternative programming, and a formal new deal with Warner Brothers for an exclusive 45-day movie window of their 2022 movie roster ahead of home releases. .
In addition to cryptocurrencies, AMC customers will also be able to use Apple Pay and Google Pay for their online purchases.
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AMC shares are up more than 2,200% since the start of the year.