By the end of 2022, cinema operator AMC will not only accept Bitcoin (BTC) as a form of payment for movie tickets but will also accept other prominent digital currencies including Ether and Litecoin.
On Thursday, AMC CEO Adam Aron revealed intentions to accept three additional cryptocurrencies: Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) (BCH).
AMC initially announced plans to accept Bitcoin payment for online movie tickets before the end of the year, as Cointelegraph previously reported.
At the time, Aron stated that moviegoers were eager to utilize cryptocurrency as a form of payment for tickets and refreshments at AMC theatres across the country.
The CEO of AMC also stated that the company was working on finalizing the essential procedures for taking cryptocurrency payments.
Aron’s tweet announcing plans for a broader crypto acceptance agenda, like the August announcement, sparked criticism from Dogecoin (DOGE) supporters for failing to include the popular “meme coin.”
AMC’s acceptance of bitcoin is part of a growing trend that has seen prominent retail outlets around the United States enable support for cryptocurrency payments.
The cinema operator’s crypto adoption plan comes amid a resurgence in revenue figures after a difficult 2020.
AMC reported falling income during the coronavirus lockdowns that defined most of 2020, with their Q2 2020 financials reflecting only $18.9 million. According to reports, the cinema operator made $444 million in sales in the second quarter of 2021.
This increase in revenue has coincided with a significant increase in the company’s stock price. During the shorts squeeze debacle at the start of the year, the r/WallStreetbets group on Reddit centered on AMC as one of the companies to watch.
AMC stock is up almost 2,200 percent year to date as of this writing.
