Adam Aron is the CEO of AMC Entertainment Holdings Inc., which trades in NYSE with $AMC (NYSE: AMC). Aron made a public announcement on Twitter that the AMC now accepts Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, and is yet to accept two other crypto coins. Here is the tweet,
“Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next.”
The following are cryptocurrency roll out payment listings by AMC that users can use: Crypto BTC, Crypto ETH, Crypto BCH and Crypto LTC.
AMC And Cryptocurrency Adoption
AMC is a large entertainment corporation in America that influences entertainment holdings. The channel produces movies and runs cinemas. The movie theatre chain is finally open to cryptocurrency adoption.
The general manager said on Tuesday that the industry was exploring accepting Dogecoin too, CRYPTO: DOGE. Rumors say that AMC is investigating Shiba Inu and will adopt it together will Doge. The company has also been exploring the creation of its cryptocurrency.
Multipayment System By AMC
AMC is finally rolling out its online multi-payment system as promised but has made it even better by adding its cryptocurrency. Other forms of payment on the list and the four cryptocurrencies are Google Pay, PayPal, and Apple Pay. All of these, including the cryptocurrency, sum up 14% of the total AMC online transactions.
The cinema chain shared a third-quarter revenue of about $755.6 million, 50 million above the estimated $708.3 million. The attendance has risen to over 40 million within the period. This is higher in comparison to the 6.5 million year-on-year gain.
On Thursday, the entertainment company shared to have a 3.06% rise on the $39.46 session. The company gained a further 0.33% during the trading after-hours. The announcement made BTC increase by 1.09% and ETH by 4.58%.
AMC Market Value After Adopting Cryptocurrency
American Movie Classics is making gains this year, with its stock previously trading at $2 and is now at $48. Aron confesses to having had to learn more about cryptocurrencies in the past month than ever before. This is following the adoption of the currency.
AMC accepting cryptocurrencies payments is a decision to interact more with its users. The decision followed the emergence of AMC as a meme stock early this year. The chain hopes that by adopting cryptocurrencies, more tech enthusiasts will flock to the movie theatre.
This is an ingenious idea because cryptocurrency users can visit a place to validate their use to those rejecting its use. An additional payments option is also okay because some users get free airdrops and spend them in the movie theatre.
Future Of American Movie Classics Theaters
Human beings will always seek entertainment. Most cryptocurrency users are movie lovers. This is a step in the right direction as it will also help increase global awareness of cryptocurrency use globally. Bitcoin for the future!