Leading American Theatre, AMC, Reveals Bitcoin Dream

In a news that could be seen as an extension of crypto adoption and support, leading American cinemas, AMC theatres has revealed it will begin accepting Bitcoin payments by the end of 2021.

According to a CNBC report, AMC CEO Adam Aron revealed this while speaking yesterday at a conference call regarding the company’s second-quarter results. It continues that Apple Pay and Google Pay payment acceptance will also start soon.

Aron added that several of the company’s new retail investors are crypto enthusiasts. AMC became notable earlier last year when its share prices became a meme stock star favoured by retail traders on Reddit.

However, the planned Bitcoin acceptance details are not available, yet the asset remains a good match and is popular among younger crypto traders. Its stock surged by more than 4 percent on Monday, following its impressive August 9 earnings report.

As announced in the earnings report, the firm earned around $444 million in revenue, an increase of 2,250 percent, was made during the second quarter. The figure showed an improvement higher than the previous year when the company recorded $18.9 million in revenue during the big wave of the pandemic.

Additionally, AMC plans to open more than a dozen new locations across America, Europe, and the Middle East this year.

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