AMC Cinemas Will Soon Accepts Bitcoin Payments For Movie Tickets.
2021-08-10 | Eddy Morgan
American cinema operator AMC Entertainment now accepts Bitcoin payments for movie tickets by 2022.
Within an official announcement earlier on 9
th Aug.,
regarding the firm’s Q2 results revealed earlier on the same day, AMC chairman and CEO Adam Aron outlined that the cinema chain intends
to possess the infrastructure
able to accept
BTC payments for online movie tickets by
the end of this year.
While details regarding AMC’s to accept Bitcoin are scant, Aron reported strong demand
for purchasing movie tickets with cryptocurrencies from the firm’s customers.
AMC’s Q2
results revealed significant improvements compared to last year, reporting $444 Mln in revenue compared to Q2 2020’s $18.9 Mln in revenue. Net losses also declined from $561 Mln or $5.38 per share to $349 Mln or $0.71 per share year-over-year.
Along with adopting BTC payments, AMC also revealed its plans to open at more than a dozen locations across the United States, Europe
and the Middle East this year.
The chairman also made the unlikely claim that he primarily learned about crypto assets after being elected to the board of Centricus Acquisition Corp. earlier on 6
th May - one week prior Centricus acquired blockchain technology firm, Arqit.
AMC’s impressive Q2 results come
solely a year after the firm appeared
destined for bankruptcy, with the cinema operator being forced
to shut venues due to the global COVID-19 pandemic outbreak.
Amid the pandemic, notorious Reddit-based pump-n-dump group, Wallstreetbets, converged on AMC’s shares to drive a 900% gain in its stock earlier in January.
Consistent with data from TradingView,
the worth of AMC stock is up 1,200% year-to-date after
rallying from roughly $2.60 USD to $34 USD as at the time of reporting.
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