AMC will accept bitcoin as payment, report says

Aug 12, 2021 0 comments


Movie theater giant AMC announced this week that bitcoin soon will be accepted as online payment for all U.S. locations, according to a report by CNBC.

AMC will have IT systems in place to be able to accept bitcoin by the end of 2021 for ticket sales and concessions, the report said.

The move shows a positive outlook for the company compared to last year. AMC previously warned to its investors that filing for Chapter 11 bankruptcy was a possibility if new sources of liquidity weren’t obtained due to the coronavirus pandemic.

There are currently 26 AMC theaters in New Jersey, according to its website, and about 950 worldwide. Theaters began reopening last August.

Other major companies that already accept bitcoin as payment include Overstock, Home Depot and Starbucks.

Bitcoin is currently the largest cryptocurrency and the first to be widely adopted, according to Coinbase. It was created in 2008 by Satoshi Nakamoto, a pseudonymous person or team.

If you don’t already own bitcoin, it’s not too late to get started.

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