AMC theatres has finally debuted full-scale Bitcoin acceptance at its movie theatres after months of previewing it. According to the CEO of the company, Adam Aaron, four cryptourrencies are now accepted across AMC theatres including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. So, despite the rise of latest batch of up-and-coming cryptocurrencies, the company chose to put its trust on the old guard of the crypto sector including Bitcoin Cash and Litecoin. However, Dogecoin is currently not available despite Aaron promising its acceptance earlier.
Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB
— Adam Aron (@CEOAdam) November 12, 2021
After much fanfare and well publicized buildup, AMC theatres has finally started accepting crypt payments. The cinema company benefited a lot from the Reddit stonk revolution from earlier this year and saw its share price pumped to record highs despite the pandemic. A large chunk of the stocks shillers on stocks like AMC and GameStop were from the crypto community and played a vital role in redefining the sector. They demanded that the corporate team listen and they did after it was found out to be a viable solution. The crypto payment option is now being used in parallel with other more traditional options like Apple Pay, Google Pay, PayPal and others.
It seems like the new payment option has become an overnight success as the CEO revealed that over 14% of all transactions have been made through it. However, to the dismay of the Dogecoin investors, the meme cryptocurrency is still not being accepted by AMC in its theatres. It is not too difficult to accept it if other cryptos have been enabled so it maybe a case of the management stopping its acceptance purposefully. While the meme cryptocurrency did rise more than 9000% in the last year or so, it also crashed quite hard and has eventually lost some of its charm.
The crypto sector is now slowly, but surely absorbing into the mainstream society and with relative ease as well. At this point, we can purchase movie tickets, pay utility bills, do groceries and even pay for tuition through Bitcoin and other cryptocurrencies. If Musk approved Bitcoin acceptance in Tesla again, we can also potentially buy cars through it.
So, as crypto becomes more and more mainstream, the stigma around it will eventually end and the society will learn to accept it. Same is the case with many other emerging technologies and now they are part of our lives. The crypto sector is following the same trajectory as all of the famous tech innovations and is likely to achieve major inroads during this bull run alone.
Image Source: Flickr.ccom
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