Great news for crypto die-hards emerged today, as AMC movie theatres CEO announced the entity’s plan to adopt crypto payments for tickets by the end of 2021. The CEO, Adam Aron, revealed the digital currencies talks revolve around ETH, LTC and Bitcoin Cash.
Cryptocurrencies and Movie Theatres
In a recent tweet, AMC CEO Adam pointed out that the firm plans to accept bitcoin for online and concession payments. He also revealed how the platforms that the theatre company will use to take up digital currencies. Among those payment platforms include Apple’s Apple Pay and Google’s Google Pay.
AMC has made a plan to smoothen the acceptance of cryptocurrencies. They announced that some IT systems would come soon to oversee how crypto transactions will occur efficiently.
Although crypto enthusiasts have a reason to celebrate, the announcement didn’t miss out on some criticism. Some sections of crypto twitter shed some understandable concerns towards AMC’s plan.
The Twitter users asked why the ‘acceptable cryptocurrencies’ do not include Elon Musk favored DOGE. The pro-dogecoin community aired their grievances, saying AMC only considers the rich and not those who can purchase digital currencies like DOGE.
AMC, others Join the Crypto Bandwagon
AMC’s recent crypto adoption news signals great times for the world of crypto enthusiasts. Besides other companies this year, AMC has joined a short, but growing list of companies ready to accept that crypto is part of the future. However, financial experts are waiting to see if the news will directly impact the price of $AMC stocks, selling at $47 at the time of writing.
Reddit users commended the announcement, terming it as a great step towards global cryptocurrency mass adoption. Nonetheless, some people still see bitcoin as an investment with too much speculation surrounding it. One analyst from Swissquote Bank, Ipek Ozkardeskaya, said,
“People are not buying Bitcoin to spend them. For me, it’s still not a nicely established currency in the sense that it’s more of an investment for the future or for something that we may want to have in the future.”
Joining The Crypto Bandwagon
El Salvador’s B-day seems to have sent massive waves to the global financial landscape. Recently, a reporter revealed how he paid for a meal in McDonald’s using BTC in El Salvador. To many people’s surprise, the payment was fast, and there were no hiccups.
Fast food pioneers like Pizza Hut and Starbucks have also made it possible for Venezuela’s residents to purchase food using cryptocurrency. It is truly a good time for crypto fans in South America, but the world watches and waits for how events will turn out in the long run.