Will AMC’s Decision to Accept Bitcoin Generate Crypto Momentum?

Some significant news in the cryptocurrency was finally made official recently, as theater juggernaut AMC announced that it would begin accepting Bitcoin by the end of 2021.

The theater chain will also begin accepting Apple Pay and Google Pay, though the Bitcoin announcement was obviously the star of the show when CEO Adam Aron hopped on the chain’s earnings call Monday.

He outlined a positive outlook regarding the organization’s entrance into the world of cryptocurrency, saying that, “we’re quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvements with cryptocurrencies.”

Still, questions remain. There are certainly some about the logistics of using Bitcoin to purchase movie tickets and concessions, which will have to occur online, as well as about the currency’s high transaction fees — for example, a $10 bag of popcorn could cost $12.50 if a customer wants to use Bitcoin. Who shoulders that fee?

It also remains to be seen whether the chain’s decision will be one of many coming down the pipeline this year and beyond, as rumors have also swirled about Amazon beginning to accept Bitcoin, which would cause significant disruption in the market.

As the cryptocurrency market continues to develop, keep it locked to the Homepage of B2B for more up-to-date news, insights and forecasts.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

leisure travel
Leisure Travel Will Drive Hotel Growth for 2023
November 29, 2022
   Business Travel News recently reported on PwC's Hospitality Directions report, indicating a reduced 2023 travel forecast. PwC largely sites economic uncertainty for the revised projections, Read more
New Battery Technology Could Make EVs Cheaper and Faster to Produce
November 29, 2022
 Companies in UK and the US are racing to find new breakthroughs in electrochemistry that don't rely on China's resources to create battery technology. As China currently holds 75% of the world's cobalt Read more
Diesel and Truck Driver Shortages Are Only the Latest in a “Highly Inefficient Transportation System”
November 29, 2022
 The trucking industry is under consistent pressure from multiple fronts. On one end, news continues to spiral about a looming diesel shortage as prices remain high and U.S. diesel supplies reach their lowest Read more