AMC Entertainment will accept Bitcoin for movie tickets in the U.S
AMC Entertainment, the largest network of the cinema industry in the world, unveiled their plans to accept Bitcoin for movie tickets. For now their plan is to offer this service in the United States at the end of this year.
In the present time taxation on crypto traders/services is under a controversial situation, where the crypto community claimed that the crypto tax bill is not favorable to crypto users. But still in this dramatic situation, the crypto market is pumping & sounds good for profits. And many good news is also coming which are giving better support to the crypto market. This time there is another good news coming from the U.S, where the entertainment industry is entering the crypto world.
Related: The U.S. Senate plans to tighten crypto taxation
Adam Aron, CEO of AMC Entertainment, talked on this matter during the company’s earnings call.
Aron said that
“the necessary technology that would enable such functionality would be in place by the end of 2021”
So, the CEO of AMC Entertainment confirmed that Bitcoin will be accepted by their company at the end of 2021. That means they may start their 2022 with the adoption of Bitcoin. But according to reports, the company is not ready with their plans on how they will implement the Bitcoin payment system. But it is confirmed that they will accept Bitcoin payments in their whole network & chain system of the cinema industry.
The company’s steps in crypto could happen because of the link with Reddit-fueled meme stock mania that sent the shares of AMC soaring earlier this year after it became the target of short-sellers.
Currently AMC Entertainment is the darling of meme stock traders. According to Aron, there are lots of retail traders who are into yolo stocks and are very enthusiastic about crypto. That is why AMC is planning to dive into crypto space.
The impact of this announcement by the AMC can be seen in the stock market, where AMC stock surged 3.36%
Read also: Unocoin allows to buy pizza, coffee & daily needs item with Bitcoin
