Adam Aron, CEO of AMC Theaters, announced via Twitter on the evening of November 11 that the chain is now accepting Bitcoin for online payment.
The announcement follows a promise made in a reminder to shareholders in August 2021, in which Chairman and CEO Adam Aron said the company, best known for operating nearly 1,000 theaters around the world, would accept Bitcoin for tickets and concessions ordered online.
At the time, Aron added that the movie theater chain, with 593 U.S. theaters and 335 international locations, which became the darling of retail investors in 2021, was also exploring “how AMC can otherwise participate in this new world of crypto. booming currency “. This is because AMC Theaters now accepts other forms of cryptocurrency for payment, as well as Apple Pay, Google Pay, and PayPal.
On Thursday, AMC joined a growing number of mainstream companies now participating in the Bitcoin economy, including Square, MicroStrategy, and Tesla, who have all bought and now hold Bitcoin as a cash reserve asset.
It is not known if and to what extent AMC plans to hold Bitcoin in reserve. While the acceptance of cryptocurrencies outside of Bitcoin for payment might be viewed as negative for some Bitcoin maximalists, it is surely better for mainstream adoption than companies that choose not to accept Bitcoin. at all. Time will tell if AMC Theaters’ Bitcoin strategy strengthens in proportion to their understanding and experience of managing Bitcoin.
