AMC Entertainment to Accept Bitcoin as a Payment Method for Ticket Purchases by Year-end

AMC Entertainment, the leading American movie theatre chain, said it would accept bitcoin as a payment method for ticket purchases and discounts at the end of this year.

Speaking at a conference call Monday, CEO of AMC Entertainment Chairman Adam Aron said AMC cinema will have its online purchase system with IT technology and will add cryptocurrency as a payment method, stating that:

"We are also in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe and we’re quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrency."

At present, AMC did not disclose how to use Bitcoin to pay for the ticket for watching movies.

The price of Bitcoin has stood at the $40K support level in recent weeks. It has risen by as high as 18.69% within a week, and today it reached $46,711, the highest point in nearly three months since May 18.

According to Coinmarketcap, the largest cryptocurrency Bitcoin, with a market cap of $855,939,082,610, was trading at $ $45,468.27 during the press time.

In addition to accepting cryptocurrency, AMC will also integrate with Apple Pay and Google Pay to expand payment channels for customers.

Following the announcement by the CEO on Monday, the value of the stock increased by 13.2%, and the final trading price of AMC shares rose by 3.36% on Monday and finally closed at $33.8 after the announcement was made. The current after-market price has risen by 5.33%, and the trading price of AMC stock is $35.6.