AMC Theaters to Start Accepting Bitcoin for Tickets

The most popular digital currencies have increased significantly over the recent years following huge investments from big business. Among corporations that now accept crypto as payment for goods and services are Apple, Microsoft, Starbucks and many others.

American cinema chain AMC Theaters, the largest cinema chain in the world, said it would start accepting payments for tickets in Bitcoin, according to company CEO Adam Aron, who noted that AMC plans to implement the technology by the end of this year.

“We're quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrency. More detail will be shared publicly with you but only if, as and when our plans are more firm,” Aron said on Tuesday, cited by Reuters.

The company was motivated by an intention to increase sales amid difficult economic conditions caused primarily by the coronavirus pandemic and to “explore how else AMC can participate in this new burgeoning cryptocurrency universe.”

AMC Theaters is the world's largest cinema chain, with 593 theaters in the US. The company also owns British cinema chains Odeon, UCI Cinemas and Carmike Cinemas.

Bitcoin, the most highly-valued cryptocurrency, continues to grow after a dramatic spring price drop. It's price has increased significantly over the past week, from $34,000 to $45,000, according to Coindesk.