December 4, 2021

Cinema chain AMC started accepting payments in cryptocurrency

The company has added the ability to pay in Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Next in line is Dogecoin.

American AMC cinema chain started accepting bitcoins,Ethereum, Bitcoin Cash and Litecoin as payment. This was announced on Twitter by the CEO of the company, Adam Aron. He also added that in the future, the company will add the ability to accept payments in Dogecoin.

Cinema chain AMC already sells digital gift cards for cryptocurrency. In early November, Aron announced that he was studying the possibility of accepting payments in the "meme" cryptocurrency Shiba Inu.

AMC Entertainment owns about 1,000cinemas in the USA and Europe. Despite the growth in revenue, in the second quarter of the company's losses amounted to $ 344 million. It was able to resume the work of all its cinemas only at the end of June this year.

In early 2021, AMC was on the verge ofbankruptcy due to quarantine restrictions. Many cinemas have been closed and studios have postponed premieres of their films. However, social media users sparked a surge in the value of several stocks, including AMC. As a result, the network was able to place additional securities, raise funds and avoid bankruptcy.

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