Lights! Bitcoin! Action! AMC Sells Tickets For Crypto
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Lights! Bitcoin! Action! AMC Sells Tickets For Crypto

Ether, Bitcoin Cash and Litecoin are also being accepted online — with CEO Adam Aron vowing: "Dogecoin next."

Lights! Bitcoin! Action! AMC Sells Tickets For Crypto

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Movie theater chain AMC has begun accepting Bitcoin and three other cryptocurrencies for its online ticket sales. 

CEO Adam Aron announced the news on Twitter:

"Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin."

He then said that the company now also accepts Apple Pay, Google Pay and PayPal, adding:

"Incredibly, they already account for 14% of our total online transactions!" 

It was not clear if that 14% referred to crypto sales, payment app sales, or both.

He ended the tweet by promising: 

"Dogecoin next."

That was in response to an outcry on Twitter from fans of the memecoin after Aron announced that crypto would be accepted by the end of the year. 

In a September 21 poll, more than three-quarters of the 140,000 voters said AMC should accept Dogecoin.
On October 29, Aron doubled down with a Twitter poll asking if AMC should accept the newest memecoin king, SHIBA INU. More than 87% of the 150,000 voters said yes.

Aron admitted that the company has been "getting hyperactive in cryptocurrency" in October, going so far as to float the idea of issuing an AMC cryptocurrency.

A month earlier, Aron said the chain was considering issuing commemorative movie tickets as NFTs. He told CNBC's Fast Money:

"We probably play 50 to 100 big movies a year. Could we make 50 to 100 commemorative tickets that mean something to people and mean something to us, that could drive our business going forward? I think the answer is yes."

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Action Movie

AMC Entertainment Holdings has been on a rollercoaster over the past two years, with the pandemic shutting theaters worldwide and driving the stock down below $2

Its fortunes reversed rapidly in April, when the rowdy traders at Reddit's r/WallStreetBets community embraced it, turning AMC into a memestock as part of a grassroots campaign to punish hedge funds shorting companies like it and GameStop.

That drove its 52-week high above $72, although it has since retreated to about $40.