AMC (AMC) to Accept Bitcoin By Year End

On the earnings conference call yesterday, AMC Entertainment (NYSE: AMC) CEO Adam Aron announced that the company will implement a Bitcoin payment option by year-end.

"... I've had to learn more in the past 6 months about blockchain and cryptocurrency than I learned about it in the entire decade before that," Aron commented. "This increased knowledge has given me the confidence to tell you all today that AMC is hereby formally announcing on this call that by year-end, we will have the information technology systems in place to accept Bitcoin as payment for movie tickets and concessions if purchased online at all of our U.S. theaters."

The CEO also hinted that they will get more involved with cryptocurrency beyond accepting it as payment, but didn't elaborate.

"We also are in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe, and we're quite intrigued by potentially lucrative business opportunity for AMC if we intelligently pursue further serious involvement with cryptocurrency," he added. "More detail will be shared publicly with you but only if, as and when our plans are more firm."

Aron also said the company will accept Apple Pay and Google Pay U.S. theaters.

"Since we had to do the IT programming to accept Bitcoin anyway, we are simultaneously writing the code right now to accept Apple Pay and Google Pay for online purchases at our U.S. theaters also," he said. "These new payment methodologies for us should also be implemented by year-end."

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