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16 Sep, 2021 14:35

AMC cinemas to accept other cryptocurrencies in addition to bitcoin

AMC cinemas to accept other cryptocurrencies in addition to bitcoin

The world’s largest cinema chain AMC Entertainment has announced it is expanding the range of cryptocurrencies it will accept for online ticket and concession payments.

"Cryptocurrency enthusiasts: you likely know @AMCTheaters 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," company CEO Adam Aron tweeted.

In August, AMC announced it would start accepting bitcoin by the end of the year at its US theaters, making it the first cinema chain to accept crypto as a payment option. The announcement came amid attempts by the world’s biggest cinema chain to boost revenue in order to bounce back from the Covid pandemic.

Earlier in January, shares in AMC Entertainment skyrocketed, becoming one of the most highly speculative assets amid the short squeeze triggered by retail traders on Reddit’s infamous WallStreetBets forum.

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