thecryptobasic.com
In an earnings call on Monday, AMC Entertainment CEO, Adam Aron stated that the theater chain will be able to accept cryptocurrency payments by the end of 2021.
AMC Entertainment announced Monday that it will accept bitcoin for payment for movie tickets and concessions at all U.S. theatres.
It is not clear how AMC will enable Bitcoin payments.
Reddit meme stock mania may have influenced the company’s decision to move to crypto.
Earlier this year Reddit fueled meme stock mania led to an increase in AMC stock after it became the target of short-sellers.
Aron asserts that many retail traders who trade in stocks also love cryptocurrencies.
The company is also looking at “other blockchain options” in addition to Bitcoin.
Pre-market trading saw AMC shares rise 3.36 percent on the news of Bitcoin integrations as payment method.
AMC is the biggest cinema chain worldwide with 1,004 cinemas, and 11,041 screens.
In March, the company was able to reopen its theaters in New York and California, which are its most lucrative markets.