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AMC Entertainment will not only accept Bitcoin (BTC) payments for movie tickets by the end of 2022, but will also include other popular digital currencies in its crypto acceptance policy.
Tweeting Thursday, the company’s CEO Adam Aron announced that AMC accepts three other cryptocurrencies – Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
As previously reported by Cointelegraph, AMC initially revealed its intention to accept Bitcoin payments for online movie tickets before the end of the year.
At the time, Aron said moviegoers were eager to use crypto as a form of payment for tickets and concessions at AMC locations across the United States.
The AMC chief also said the company is working to finalize the necessary terms for accepting crypto payments.
As was the case with the August announcement, Aron’s tweet revealing plans for an expanded crypto acceptance program also drew strong criticism from Dogecoin (DOGE) supporters for not have included the popular “meme coin”.
AMC accepting crypto is also part of a developing trend that has seen leading retail establishments enable cryptocurrency payments to be supported across the United States.
Related: BTC payments arrive in some Quiznos stores, thanks to the Bakkt collaboration
The cinema operator’s crypto adoption plan comes amid a resurgence in turnover after a difficult 2020.
Amid the coronavirus lockdowns that characterized most of 2020, AMC saw its revenue decline, with its second quarter 2020 financials only recording $ 18.9 million. In the second quarter of 2021, the cinema operator would have achieved a turnover of 444 million dollars.
This increase in earnings also occurred against the backdrop of a massive increase in the company’s stock price. Indeed, AMC was one of the stocks on which the r / Wallstreetbets group converged on Reddit during the short squeeze saga earlier this year.
At the time of writing, AMC stock is up over 2,200% year-to-date.
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