AMC Entertainment, the operator of the world’s largest cinema chain, will start accepting bitcoin as payment for movie tickets and concessions if purchased online at all of its US theaters, Report informs referring to CNBC.
CEO Adam Aron said that the movie theater chain would have the IT systems in place to take the cryptocurrency as payment by the end of 2021.
The move marks a marriage of two highly speculative assets - bitcoin, known for its wild volatility, and AMC, which became a meme stock star favored by retail traders on Reddit’s infamous WallStreetBets forum.
The bitcoin price swung drastically in recent weeks, the last trading around $46,000 after falling below $30,000 last month. The recent rebound came amid optimism that a cryptocurrency compromise will be included as part of the bipartisan infrastructure package. The Senate ultimately failed to advance the deal.