September 16, 2021

AMC will let customers pay in Ethereum and Litecoin by the end of the year

[Fortune, Getty Images]

AMC is expanding its cryptocurrency interests.

The movie theater chain has announced it will begin accepting Ethereum, Litecoin, and Bitcoin Cash for online ticket sales and concession payments by the end of the year. The announcement comes just over a month after AMC announced it would begin accepting Bitcoin.

CEO Adam Aron dropped word of the new policy in a tweet Wednesday evening.

The decision to embrace crypto follows AMC’s emergence as a meme stock darling earlier this year. By accepting Bitcoin and other digital currencies, the chain hopes that tech enthusiasts who invested in the company will now start going to movies there—and it’s giving them additional payment options to encourage them.

Dogecoin, however, is still not accepted by the chain. And that earned Aron a bit of a shellacking from the AMC Apes who follow him.

“Wow, so out of touch with your customers and investors—sad!,” one follower wrote. “Perhaps no one in your boardroom is familiar with The People’s Crypto, Dogecoin, which embodies the meme economy and the spirit of AMC. After this year I figured you would know a thing or two about the meme economy!!!”

It has been an eventful year for AMC, which saw its shares start around $2 per share. Today, they hover around $48, having soared has high as $72. At the same time, the company has been forced to explore other options, as new investors have flooded in.

“I’ve had to learn more in the past six months about blockchain and cryptocurrency than I learned about it in the entire decade before that,” Aron said on an earnings call last month.


Leave a Reply