AMC to accept Litecoin, Ethereum, along with Bitcoin, for online movie ticket, concession purchases

AMC CEO Adam Aron stated that the movie chain will accept cryptocurrencies Ethereum and Litecoin for online ticket purchases and concessions.

This announcement follows Aron’s announcement on AMC’s second quarter earnings call, that AMC would accept Bitcoin, the largest cryptocurrency as an alternative payment method for online purchases, by the end.

Aron tweeted Wednesday night, “Cryptocurrency lovers: You probably know @AMCTheatreshas made it clear that we will accept Bitcoin online for ticket and concession payments until the end of 2021,” ‘I can confirm that when we do that, we also expect to accept Ethereum, Litecoin, and Bitcoin Cash.

Dogecoin was not included in AMC’s accepted cryptocurrencies list. This has been criticized by many Twitter users, including Shibetoshi Nakamoto, the founder of the meme token.

According to real time price tracking by Coindesk, Bitcoin traded at approximately 47,000 per coin as of the publication date. Ethereum has seen a 6% jump, trading at around $3,600 per token, while Bitcoin Cash is slightly up, trading at $642.13 each coin.

AMC’s acceptance of cryptocurrency as an alternative payment method is part of a multi-step plan to play offense. This comes after the company has reduced its losses and increased its total liquidity to more than $2Billion.

AMC also plans to take up to 10 new leases at existing theater locations, alternative programming and a new formal agreement to Warner Brothers to offer a 45-day theatrical window for their 2022 film slate, prior to at-home release.

AMC customers will be able use Apple Pay or Google Pay to make online purchases in addition to crypto currencies.

AMC shares have increased by more than 2,200% in the past year.

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