Crypto

AMC is going all-in on crypto and will accept more than just Bitcoin by the end of 2021

Will anyone actually do this though?

by
Josiah Motley
September 17, 2021

Image: KnowTechie

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If you have been looking for a real-world use of your digital currencies like Bitcoin, AMC is banking on you using cryptocurrency to pay for movies and $12 boxes of popcorn.

While it was originally announced that it would accept Bitcoin, AMC’s CEO, Adam Aron, has tweeted that he expects that AMC will also accept Ethereum, Litecoin, and Bitcoin Cash.

It is certainly an interesting step for the company, but at the end of the day, will people actually do this? Let’s be real here, most people aren’t buying Bitcoin to spend in stores. They are buying it and hoarding it, hoping they’ll be the next success story that cashes out for millions.

Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash. pic.twitter.com/uKcFyQotoJ
— Adam Aron (@CEOAdam) September 16, 2021

Real-world adoption (like what is happening in El Salvador) is obviously something that is good for the future of cryptocurrencies, but until it stabilizes, who really wants to spend $40 worth of BTC on a movie when that $40 could be worth $80 next month.

On the flip side, what business really wants to accept a cryptocurrency that may be worth less next week than it is this week. We’ll see how it goes. The plan is for AMC to starting accepting cryptocurrencies by the end of 2021.

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