Cinema operator AMC plans to accept BTC by 2022

US cinema operator AMC Entertainment aims to accept Bitcoin payments for movie tickets by 2022.

Speaking on an Aug. 9 conference call regarding the company’s second quarter results announced earlier the same day, AMC chief executive officer Adam Aron revealed that the movie chain had l plan to have the infrastructure ready to accept BTC payments for online movie tickets by the end of 2021.

While details regarding AMC’s plan to accept Bitcoin are scarce, Aron has reported strong demand to purchase crypto movie tickets from the company’s customers.

AMC’s second quarter results showed significant improvements over last year, with revenue of $ 444 million compared to $ 18.9 million in the second quarter of 2020. Net losses also increased declined from $ 561 million or $ 5.38 per share to $ 349 million or $ 0.71 per share year-over-year.

Along with the adoption of BTC payments, AMC also announced plans to open more than a dozen locations in the United States, Europe and the Middle East this year.

The president also unlikely to claim that he first discovered crypto assets after being elected to the board of directors of Centricus Acquisition Corp. on May 6, a week before Centricus acquired blockchain technology company, Arqit.

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AMC’s impressive second-quarter results come just a year after the company appears doomed to bankruptcy, with the theater operator forced to close theaters as the global coronavirus pandemic spreads.

Amid the pandemic, notorious Reddit-based Pump-n-dump group Wallstreetbets converged on AMC shares to generate a 900% share gain in January. According to data from TradingView, the AMC stock price has risen 1,200% year-to-date after rising from around $ 2.60 to $ 34 at the time of writing.