Wondering what to do with your Bitcoin stock now that you’ve done it I can’t buy Tesla?? Maybe it’s time to capture a movie on the big screen. According to to CNN, AMC has announced that it plans to accept Bitcoin as a payment for tickets and snacks in all U.S. theaters by the end of 2021. Company chief Adam Aron did not say how you would make those payments, but hinted that AMC was exploring other ways to join the “growing universe of cryptocurrencies.”
U.S. theaters should also support Apple Pay and Google Pay for online shopping by the end of the year, Aron said.
The CEO explained this decision as a result of his tenure on the board of directors of Centricus Acquisition Corp., a contractor at blockchain company Arquit. And yes, Reddit meme turbulence played its part – Aaron is aware that many recently added shareholders of AMC are “quite enthusiastic” about cryptocurrencies. He hopes the technology enthusiasts who have increased the value of his company’s shares will be frequent buyers, in other words.
Another thing is whether this is a viable idea or not. Gizmodo notes that the fees for crypto transactions can be high and you may pay a premium for that already expensive soda. The cryptocurrency instability the problem remains. The bitcoin you spend on tickets one day could be worth enough to rent an entire theater just a few months later. The AMC would have to figure out how to overcome that uncertainty without damaging the end result.
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