Largest cinema chain AMC to add support for Ethereum, Litecoin, and Bitcoin Cash

Largest cinema chain AMC to add support for Ethereum, Litecoin, and Bitcoin Cash

The American cinema network AMC Theaters will also introduce Ethereum, Litecoin, and Bitcoin Cash as a payment method for tickets in addition to Bitcoin by the end of 2021. This was announced by the CEO of the company Adam Aron.

“You are probably aware that AMC will start accepting bitcoin for ticket payments by the end of 2021. I want to confirm these plans and inform you that a similar option will also be available to holders of Ethereum, Litecoin, and Bitcoin Cash, ”said Aron.

We will remind, the CEO of the company promised to add such an opportunity in August, at a press conference with investors following the publication of reports for the second quarter.

The initiative aims to boost sales amid the coronavirus pandemic. In January 2021, which owns 593 cinemas in the United States and 335 – abroad, the network raised $ 917 million to avoid bankruptcy.

AMC noted losses of $ 344 million from March to June 2021. The figure exceeded Wall Street analysts’ expectations of $ 440 million.

In January, the chain of cinemas was supported by retail investors in the r/WallStreetBets subreddit. Since the beginning of the year, the company’s shares have risen in price more than 23 times – from $ 2 to $ 46.84.

Earlier, Major Cineplex Group, the largest cinema chain in Thailand, began accepting bitcoin to pay for tickets.

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