AMC Entertainment, one of the world’s largest movie theater chains, announced that it will begin offering technology that will allow moviegoers in the United States to pay for their tickets and snacks in Bitcoin by the end of the year.
The company’s CEO, Adam Aron, said the company’s new investors are “enthusiastic” about crypto, adding, “I’ve had to learn more about blockchain and cryptocurrency in the last six months than I’ve learned in the previous decade.”
“We are currently writing the code simultaneously to accept Apple Pay and Google Pay for online purchases in our US theaters, as we have to do the IT programming to accept Bitcoin anyway,” Aron said. Customers will be able to purchase movie tickets online with Bitcoin once the work is complete.
Investors welcomed the news
AMC shares rose 5.3 percent in after-hours trading. Bitcoin rose 5.5 percent on Monday night compared to the previous day. As cryptocurrencies become more common, companies are exploring how to incorporate them into their business.
This development came after the controversy over Amazon accepting Bitcoin payments. Recently, Twitter founder Jack Dorsey said that cryptocurrency could be an important part of Twitter’s strategy going forward.
Some saw it as a move to encourage customers to return to theaters after a tough few months due to the pandemic. Most cinemas were closed due to the COVID-19 pandemic.
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