Adam Aron, CEO of AMC Theaters, announced via Twitter that the global chain is now accepting Bitcoin for online payments.
Adam Aron, CEO of AMC Theaters, announced on the evening of November 11th via Twitter that the chain is now accepting Bitcoin for online payments.
The announcement follows a promise made in a call to shareholders in August 2021 in which chairman and CEO Adam Aron said the company, best known for operating nearly 1,000 movie theaters around the world, will use bitcoin for online would accept ordered tickets and concessions.
At the time, Aron added that the theater chain, with 593 US cinemas and 335 international locations, which has become the darling of retail investors in 2021, was also investigating “how else AMC can participate in this burgeoning cryptocurrency universe.” In fact, AMC Theaters is now also accepting other forms of cryptocurrency for payment as well as Apple Pay, Google Pay, and PayPal.
On Thursday, AMC joined an increasing number of mainstream companies now participating in the Bitcoin economy, including Square, MicroStrategy and Tesla, all of which bought Bitcoin and now hold it as treasury reserve.
It is unclear whether and to what extent AMC plans to keep Bitcoin in reserve. While accepting cryptocurrencies outside of Bitcoin for payment can be seen as a negative for some Bitcoin maximalists, it is certainly 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 its understanding and experience in dealing with bitcoin.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.