AMC Entertainment will not only accept Bitcoin (BTC) payments for movie tickets in late 2022, but will also include other popular digital currencies in its cryptocurrency acceptance policy.
On Thursday, the company’s CEO, Adam Aron, announced plans for AMC to accept three other cryptocurrencies: Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
As previously reported by Cointelegraph, AMC initially unveiled its plans to accept Bitcoin payments for online movie tickets before the end of the year.
At the time, Aron said moviegoers were eager to use cryptography as a means of paying for tickets and concessions at AMC locations in the United States.
The AMC chief also said the company was working to finalize the modalities needed to accept encrypted payments.
As was the case in the August announcement, Aron’s tweet revealing plans for an expanded cryptocurrency acceptance agenda also drew significant criticism from Dogecoin (DOGE) advocates for not including the popular one. ” currency meme “.
The AMC that accepts cryptography is also part of a developing trend that has allowed prominent retail outlets to allow support for cryptocurrency payments in the United States.
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The film operator’s cryptocurrency adoption plan comes amid a resurgence of revenue figures after a difficult 2020.
Amid the coronavirus blockages that characterized most of 2020, AMC recorded a decline in revenue, with its second quarter 2020 financial resources recording only $ 18.9 million. During the second quarter of 2021, the film operator grossed $ 444 million.
This rise in revenue has also occurred amid a massive rise in the company’s share price. In fact, AMC was among some stocks converged by the r / Wallstreetbets group on Reddit during the short squeeze saga earlier this year.
At the time of writing, AMC’s shares were up more than 2,200% year-over-year.