AMC Entertainment Holdings (NYSE:AMC) Inc has said it plans to accept a broader range of cryptocurrencies in the coming months, expanding on its pledge to start taking Bitcoin as payment in its cinemas.
Chief executive Adam Aron, in a Tweet, revealed the plan to allow customers to pay for tickets and snacks using Ethereum, Litecoin and Bitcoin Cash before the end of the year. The tweet appears to be real, unlike this week’s #fakenews story that WallMart was going to accept Litecoin.
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. pic.twitter.com/uKcFyQotoJ
— Adam Aron (@CEOAdam) September 16, 2021
It is part of a broader strategy to modernise its operations and it will also start taking payments through Apple Pay and Google Pay.
AMC is among the so-called ‘meme-stocks’ favoured by retail investors and the online community of day traders on Reddit, so management is somewhat playing to the crowd with such an announcement.
But, it is not the only mainstream company to consider adopting crypto as payment.
Elon Musk earlier this year wrote the headlines as Tesla accepted began taking Bitcoin as payment for its electric vehicles – before rowing back the scheme amid increasingly publicised concerns about Bitcoin’s negative environmental impact.