AMC to add Ethereum, Litecoin and Bitcoin Cash support alongside Bitcoin

The American cinema chain AMC Theatres will, by the end of 2021, add Ethereum, Litecoin and Bitcoin Cash as payment options for tickets, in addition to Bitcoin. This was disclosed by CEO Adam Aron.

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. pic.twitter.com/uKcFyQotoJ

— Adam Aron (@CEOAdam) September 16, 2021

“You probably know that AMC will begin accepting Bitcoin for ticket payments by the end of 2021. I want to confirm these plans and say that a similar option will also be available to holders of Ethereum, Litecoin and Bitcoin Cash”, said Aron.

Earlier this year, the CEO promised to add such an option in August at an investor press conference following the release of the second-quarter results.

The initiative is aimed at boosting sales during the coronavirus pandemic. In January 2021, the chain, which operates 593 cinemas in the United States and 335 abroad, raised $917 million to avert bankruptcy.

The company posted a loss of $344 million from March to June 2021, beating Wall Street analysts’ expectations of $440 million.

In January, the cinema chain was backed by retail investors on the r/WallStreetBets subreddit. Since the start of the year, the company’s shares have risen more than 23-fold—from $2 to $46.84.

Earlier, Thailand’s largest cinema chain Major Cineplex Group began accepting Bitcoin for ticket payments.

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