AMC says it will soon allow you to pay for your movie ticket in bitcoin

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During an earnings call on Monday, the movie chain said it would begin deploying technology to allow moviegoers in the United States to pay for their tickets and snacks in bitcoins (XBT) by the end of the year.

“I must have learned more over the past six months about blockchain and cryptocurrency than I learned over the past decade,” said CEO Adam Aron.

He added that the company “was also exploring how AMC (AMC) can participate in this burgeoning new cryptocurrency universe, and we’re quite intrigued by the potentially lucrative activities [opportunities]. “

For now, the move would allow customers to buy tickets and concessions online using Bitcoin for all of AMC’s U.S. theaters. Aron said that “since we had to do the computer programming to accept bitcoin anyway, we are simultaneously writing the code right now to accept Apple Pay and Google Pay for online purchases in our US theaters as well.”

Investors applauded the news. AMC shares jumped 5.3% in after-hours trading. Bitcoin was up 5.5% on Monday night from the previous day.

Amazon posted a crypto job posting. Bitcoin jumped 14%

As cryptocurrencies become more and more mainstream, a growing number of companies are exploring how to incorporate them into their operations.

Last month, virtual currencies soared after bullish comments from Elon Musk and Jack Dorsey, CEOs of You’re here (TSLA) and Twitter (TWTR), respectively.

Musk revealed at the time that two of his companies – Tesla and SpaceX – both owned bitcoin, while Dorsey said cryptocurrency could become a major part of Twitter’s strategy going forward.

That week the news of a Amazon (AMZN) the job posting also caused bitcoin to jump. The company said it was recruiting a “digital currency and blockchain product manager” who is expected to help its payments team develop “new capabilities.”
“We are inspired by the innovation that is happening in the cryptocurrency space and explore what that might look like on Amazon,” a company spokesperson told CNN Business at the time.

“We believe the future will be built on new technologies that enable modern, fast and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

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