AMC will soon accept other cryptocurrencies for purchases

AMC will soon accept other cryptocurrencies for purchases

AMC on Wednesday expanded the range of cryptocurrencies it soon plans to accept for movie ticket and concession purchases.

In its second-quarter earnings report in August, AMC Entertainment Holdings Inc. AMC, the nation’s largest movie-theater chain, announced it would accept bitcoin BTCUSD for online ticket and concession purchases before the end of this year. In a tweet Wednesday, AMC Chief Executive Adam Aron said Ethereum ETHUSD, Litecoin LTCUSD, and Bitcoin Cash BCHUSD will also be accepted.

 

During the August earnings call, Aron said AMC will also accept payments through Apple Inc.’s AAPL Apple Pay and Alphabet’s GOOGL GOOG Google Pay by year’s end.

A growing number of companies are accepting bitcoin and other cryptocurrencies as payment, including PayPal Holdings Inc. PYPL, and Square Inc. SQ. Earlier this year, Tesla Inc. TSLA made a splash after announcing it would accept bitcoin for payments, then halted those plans in May after CEO Elon Musk raised concerns about crypto mining’s effects on global energy usage.

 

AMC shares are up an astounding 2,100% year to date, thanks to the meme-stock frenzy earlier this year, though they have slumped 15% over the past three months.