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FinanceAMC

AMC will let customers pay in Ethereum and Litecoin by the end of the year

By
Chris Morris
Chris Morris
Former Contributing Writer
By
Chris Morris
Chris Morris
Former Contributing Writer
September 16, 2021, 6:07 PM ET

AMC is expanding its cryptocurrency interests.

The movie theater chain has announced it will begin accepting Ethereum, Litecoin, and Bitcoin Cash for online ticket sales and concession payments by the end of the year. The announcement comes just over a month after AMC announced it would begin accepting Bitcoin.

CEO Adam Aron dropped word of the new policy in a tweet Wednesday evening.

Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash. pic.twitter.com/uKcFyQotoJ

— Adam Aron (@CEOAdam) September 16, 2021

The decision to embrace crypto follows AMC’s emergence as a meme stock darling earlier this year. By accepting Bitcoin and other digital currencies, the chain hopes that tech enthusiasts who invested in the company will now start going to movies there—and it’s giving them additional payment options to encourage them.

Dogecoin, however, is still not accepted by the chain. And that earned Aron a bit of a shellacking from the AMC Apes who follow him.

“Wow, so out of touch with your customers and investors—sad!,” one follower wrote. “Perhaps no one in your boardroom is familiar with The People’s Crypto, Dogecoin, which embodies the meme economy and the spirit of AMC. After this year I figured you would know a thing or two about the meme economy!!!”

Others agreed.

Lmao Seriously… Bitcoin Cash, Adam? Who’s been doing the DD for you? 😒

— Jenny Q Ta 她 🫠 (@JennyQTa7) September 16, 2021
https://twitter.com/BillyM2k/status/1438340360493699073

What about Doge, sir? BTC will not really be used for popcorn and movie transactions. Neither will Ethereum. Doge would be the power meme for this.

— Baboona (@bears_gone) September 16, 2021

It has been an eventful year for AMC, which saw its shares start around $2 per share. Today, they hover around $48, having soared has high as $72. At the same time, the company has been forced to explore other options, as new investors have flooded in.

“I’ve had to learn more in the past six months about blockchain and cryptocurrency than I learned about it in the entire decade before that,” Aron said on an earnings call last month.

More finance coverage from Fortune:

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  • NYSE’s new investment vehicle—”natural asset companies”—will tap into ESG fever

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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