MW In addition to bitcoin, AMC will soon accept other cryptocurrencies for purchases
By Mike Murphy
CEO says Ethereum, Litecoin, Bitcoin Cash will also be accepted for ticket and concession purchases by year's end
AMC on Wednesday expanded the range of cryptocurrencies it soon plans to accept for movie-ticket and concession purchases.
In its second-quarter earnings report in August, AMC Entertainment Holdings Inc. $(AMC)$, the nation's largest movie-theater chain, announced it would accept bitcoin for online ticket and concession purchases before the end of this year. In a tweet Wednesday, AMC Chief Executive Adam Aron said Ethereum , Litecoin and Bitcoin Cash will also be accepted.
During the August earnings call, Aron said AMC will also accept payments through Apple Inc.'s $(AAPL)$ Apple Pay and Alphabet's $(GOOGL)$(GOOGL) Google Pay by year's end.
A growing number of companies are accepting bitcoin and other cryptocurrencies as payment, including PayPal Holdings Inc. (PYPL) and Square Inc. $(SQ)$. Earlier this year, Tesla Inc. $(TSLA)$ made a splash after announcing it would accept bitcoin for payments, then halted those plans in May after CEO Elon Musk raised concerns about crypto mining's effects on global energy usage.
AMC shares are up an astounding 2,100% year to date, thanks to the meme-stock frenzy earlier this year, though they have slumped 15% over the past three months.
-Mike Murphy
$(END)$ Dow Jones Newswires
September 15, 2021 23:18 ET (03:18 GMT)
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