AMC theaters will accept cryptocurrencies beyond Bitcoin

Your Ethereum or Litecoin stash will get you into the movies.

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NEW YORK, UNITED STATES - 2021/08/10: View of AMC movie theater in Times Square whose parent company AMC Entertainment announced accepting Bitcoins as payment by the end of 2021. AMC Entertainment CEO Adam Aron adopting the Reddit crowd's lingo announced that he views retail investors as crucial to the movie theater chain's fortunes. In reaction to those announcements the stock gained Monday, August 9, 2021 and is up nearly 9% premarket. (Photo by Lev Radin/Pacific Press/LightRocket via Getty Images)
Lev Radin/Pacific Press/LightRocket via Getty Images

You won't have to stick to Bitcoin if you're determined to pay for your movie ticket with cryptocurrency. AMC chief Adam Aron has revealed his theater chain will also accept Ethereum, Litecoin and Bitcoin Cash when crypto payments are available. He didn't have a narrower timeframe for digital currency payments beyond "year-end 2021."

Aron made the decision to accept cryptocurrency after the combination of the meme stock frenzy from earlier in 2021 as well as a turn on the board of a blockchain contractor. As you might guess, the CEO is betting tech fans will translate their enthusiasm for AMC stock to business at theaters.

The prospect of using cryptocurrency is improving when companies like PayPal make it relatively easy to hold and use virtual money. The expanded options won't change some of the practical challenges, however. Transaction fees can still be high, and numerous crypto formats tend to be volatile. The issue isn't so much the risk to AMC as the potentially low demand — even committed crypto fans might find it too expensive.

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