AMC (AMC) to Start Accepting Other Cryptocurrencies for Online Tickets and Concession Payments
- Wall Street flat, IBM results weigh on technology stocks
- Tesla (TSLA) Beats EPS and Revenue Views on Improving Gross Margins, Analysts Praise Very Solid Quarter But Warn of 'Aggressive Valuation' as Stock 'Priced to Perfection'
- Trump Media To Go Public Via $1.7 Billion SPAC Deal, Aims to Fight the Big Tech
- IBM (IBM) Stock Plunges 5% on Sales Miss, Q3 Results Seen as a Setback
- Oil hits multi-year high above $86, then pulls back
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
AMC Entertainment (NYSE: AMC) announced today it will start accepting Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) as payment methods for online tickets and concession payments by the end of the year.
“Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash,” CEO Adam Aron said in a tweet.
This moves after the theater chain announced last month it will begin accepting Bitcoin payments by the end of the year.
“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 a potentially lucrative business opportunity for AMC if we intelligently pursue serious further involvement with cryptocurrency,” Aron said during the company’s Q2 call.
Aron has recently been involved with the quantum encryption startup Arqit that helped him gain more insight and knowledge about blockchain and cryptocurrency.
"People are not buying Bitcoin to spend them. For me, it's still not a nicely established currency in the sense that it's more of an investment for the future or for something that we may want to have in the future," Swissquote Bank analyst Ipek Ozkardeskaya told Reuters.
Shares of AMC are down 1% in pre-open Thursday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BITO ETF Debut and Paul Tudor Jones' Bullish Comments Propel Bitcoin (BTC) Price to New Record Highs
- Pre-Open Stock Movers 10/20: (SESN) (LRN) (UAL) Higher; (NVAX) (MITO) (EAT) Lower (more...)
- ZK International Group's (ZKIN) xSigma Launches Beta for Two Trading Platforms for CFDs, Crypto, Crypto Options and Crypto Derivatives
Create E-mail Alert Related CategoriesCorporate News, Cryptocurrency, Trader Talk
Related EntitiesBitcoin, Pre Market Movers
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!