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Top line
During an earnings call on Monday, the CEO of AMC Entertainment said he would start accepting bitcoin for online ticket purchases and concessions by the end of the year, making it the first movie theater chain to accept cryptocurrency as a payment option.
DENVER, COLORADO – AUG 20: Movie buffs leave AMC Highlands Ranch 24 on August 20, 2020 at … [+]
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Highlights
AMC Entertainment CEO Adam Aron said the technological systems to process bitcoin payments would be in place by the end of the year, CNBC reports.
Yahoo finance Aron also mentioned in the earnings call that the company’s new investors were “excited” about the crypto.
However, Aron did not specify how the bitcoin transaction would work or what the buying process would look like for customers.
Aron also said AMC theaters will start accepting Google Pay and Apple Pay.
Forbes contacted AMC Entertainment for more details.
Key context
Companies that accept bitcoin include PayPal and Starbucks through the Bakkt app, which converts cryptocurrency into payment, according to the Business intern. Tesla, which accepted bitcoin as a payment method earlier this year, finally stopped accepting it in May. However, Tesla CEO Elon Musk said in July that the company would likely resume accepting bitcoin once it verifies that the “percentage of renewable energy use of bitcoin is most likely equal to or greater than 50% “. On Monday, the trading price of a single bitcoin was around $ 46,000.
Large number
46 million. This is roughly the number of Americans who own at least a share of bitcoin, according to a study by the New York Digital Investment Group. This represents about 17% of the adult American population.
Further reading
$ 300 Billion Crypto Price Boom: Bitcoin Suddenly Rises To $ 50,000 As Ethereum, BNB, Cardano, XRP, Dogecoin, and Uniswap Rise (Forbes)
BREAKING: $ 50 billion defense spending amendment kills pro-Bitcoin legislation, original ‘problematic’ text goes to final vote (Forbes)
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