AMC (AMC) to Start Accepting Other Cryptocurrencies for Online Tickets and Concession Payments

September 16, 2021 8:31 AM EDT

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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.

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