AMC Theatres' Crypto Rollout Will Include More Than Just Bitcoin
AMC Theatres CEO Adam Aron has announced a plan to support more cryptocurrencies than just Bitcoin, highlighting the growing role these digital coins play in society. The company previously said that its customers would be able to pay for concessions and buy tickets online using Bitcoin, the most popular crypto, but it turns out that Litecoin and others will also be options.
Amid the GME hype, many turned to AMC as the next big meme stock. Perhaps as a nod to these investors, AMC Theatres previously said that it would accept Bitcoin payments in some cases. The latest update from Aron reveals that Etherium, Litecoin, and Bitcoin Cash will also be accepted. The expansion comes only around a month after the Bitcoin announcement.
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. pic.twitter.com/uKcFyQotoJ
— Adam Aron (@CEOAdam) September 16, 2021
Though it's not the first big company to accept crypto payments, AMC Theatres is one of the most notable as it is a place consumers are likely to visit on a regular basis. Crypto as a whole — or, at least, the biggest digital assets in the category — has moved into the mainstream with apps like PayPal making it easy to buy and use the coins.
Based on the CEO's tweet, it seems the Litecoin, Bitcoin Cash, and Ethereum support will be available at the same time as the Bitcoin support when it launches toward the end of this year. The bigger question is whether crypto enthusiasts will be willing to pay for their tickets and popcorn using their digital assets.
The fees associated with these transactions are still high in the majority of cases and many are holding their crypto assets in hope that they gain value in the coming years. The entire market remains volatile; there was a big crypto crash earlier this year, for example, that saw hundreds and thousands of dollars in value shaved off various coins. Despite that, more companies are expressing interest in crypto than ever.