Key Takeaways
- U.S. cinema giant AMC Theaters to accept bitcoin payments
- Bitcoin part of new payment methods added by the Cinema company
- More institutions and companies adopting crypto payments
This development was revealed on August 9 by AMC CEO Adam Aron during the company's quarterly meeting. Aron stated that AMC intends to offer crypto payment services to U.S. customers who can pay for movie tickets.
The cinema giant will initially accept Bitcoin before offering other cryptocurrencies in the future and expanding the service globally. In addition, AMC stated that it was preparing to delve into other aspects of blockchain technology and hinted at NFTs (non-fungible tokens).
NFTs is one of the hottest trends in the entertainment industry, and it is not surprising that AMC is exploring this sector. The company also revealed that it is expanding its online payment repertoire to include Google Pay and Apple Pay.
The addition of cryptocurrencies alongside the new payment options is expected to drive more sales for AMC outlets in the U.S. AMC has over 500 theaters in the U.S. and is considered the biggest cinema company in the country.
This latest development shows how far crypto adoption has come in recent years. As a result, more companies and organizations have continued to add crypto payments options for their customers.
The institutional adoption is great as it provides credence to digital currencies and shows that blockchain technology is here to stay. Leading automobile manufacturer Tesla had also announced earlier in the year that it would allow bitcoin payments for its electric car.
Banks are not left behind, with American leading bank JPMorgan recently allowing high-value clients exposure to bitcoin and crypto funds. By the end of 2022, crypto adoption will be more than 100% higher than its current levels globally.
What do you think about AMC theater's decision to accept BTC payment?
