The US-based movie chain had announced in August that it would accept Bitcoin by the end of 2021
AMC Theatres is the largest movie theatre chain in the world
AMC Entertainment Holdings will accept three other major cryptocurrencies along with Bitcoin (BTC) by the end of the year, the company’s chief executive Adam Aron has said.
In a tweet posted on Thursday, the AMC boss noted that the theatre chain would look to accept Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) when it begins to allow its customers to pay with Bitcoin before the end of 2021.
“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,” Aron announced.
The news follows the entertainment giant’s August announcement that customers would be able to use Bitcoin to pay for movie tickets and other concession purchases.
This is great news for crypto adoption, with various social media voices largely advocating for the addition of Dogecoin (DOGE) to the list of accepted cryptocurrencies.
It’s also likely to be a bullish trigger for LTC and BCH, though the market is likely to be cautious given this week’s debacle about retail giant Walmart and its move to accept Litecoin (LTC). After the news appeared in major mainstream publications, LTC price soared, only to dump as Walmart and the Litecoin Foundation revealed the news was “fake”.
Meme craze saw AMC stock soar
AMC Entertainment shot into the spotlight earlier this year as a meme stock after its stock price skyrocketed from lows of $2.12 in January to highs of $72.62 in June. The parabolic performance came as a result of massive buying pressure driven by retail traders marshaled under a Reddit group called WallStreetBets.
The AMC price has since pared some of the gains from its yearly highs of $72.62. However, trading data shows its closing price of $46.84 on 15 September on the NYSE is still a staggering +2,109.43% increase year-to-date.