AMC will accept Bitcoin as payment for tickets and food by year-end

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AMC has announced that it will begin deploying technology to allow quests in the United States to pay for their tickets and food in Bitcoin by the end of 2021.

I must have learned more in the past six months about blockchain and cryptocurrency than I learned over the previous decade, CEO Adam Aron said, according to CNN. The chain of theaters was also exploring how AMC could participate in this new burgeoning cryptocurrency universe and was very intrigued by potentially lucrative activities. [opportunities].

Theaters are updating the technology to accept Apple Pay and Google Pay for online purchases in theaters as well.

In response to the news, AMC shares jumped 5.3% during after-hours trading, according to CNN and Bitcoin rose 5.5% on Monday night from the previous day.

More and more companies are adopting cryptocurrencies in their activities. Last month, Twitter reportedly said cryptocurrency would become a big part of its future strategy.

Around the same time, Amazon posted a job for a digital currency and blockchain product manager, to help its payments team develop new capabilities.

We were inspired by the innovation happening in the cryptocurrency space and explore what that might look like on Amazon, a company spokesperson told CNN Business. We believe the future will be built on new technologies that enable modern, fast and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.

Massachusetts Senator Elizabeth Warren has spoken out against cryptocurrency on several occasions. During a congressional hearing in June, Warren said cryptocurrency posed significant problems for four reasons: fluctuating value, investment issues, illegal activity, and cost to the environment.

Cryptocurrency has created opportunities to scam investors, help criminals and worsen the climate crisis, Warren said. The threats released by the crypto show that Congress and federal regulators cannot continue to hide, hoping that the crypto disappears. This will not be the case. It is time to face these issues head-on.

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