AMC to accept Bitcoin for movie tickets


The AMC- American cinema hub has declared that it will consider accepting Bitcoin movie tickets by the end of 2021. Since they are getting huge demand from the customers, this initiative is approached.
According to the
AMC the payment from customers will be
accepted in
Google Pay and Apple Pay as the payments of Bitcoin
and cryptocurrencies.
Let’s check out the
updates by AMC:
AMC Entertainment specified on Monday that it will begin accepting
bitcoin as payment for movie tickets. The concessions are bought online at all of
its U.S. theatres.
CEO Adam Aron specified that the movie
theatre chain will have the IT systems for smooth transaction of cryptocurrency
that will be accepted as payment by the end of 2021.
In mid-May Tesla had declared strategies to accept bitcoin for transactions done, but it stopped accepting bitcoin.CEO Elon Musk has commented that bitcoin will be on hold for long term.
The stocks of AMC had scaled up more than 4% in
lengthy trading following a better-than dreaded earnings report. The company has announced a narrower-than-expected loss through the
second quarter, along with revenue which was evaluated by the
analysts’.
What does the CEO have
to say?
Aron stated the company is discovering other
crypto paths as well. Bitcoin may not be the only cryptocurrency that the company agrees to take overall. “We’re on the case,” Aron said, “more to come.”
The stock has united nearly 1,500% this year as the group of retail traders who harmonized trades on social media platforms. It has managed to generate a massive short embrace in the shares.

Shivangi Mujumdar
CBW - External Analyst
INDIA