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.
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