AMC To Accept Ethereum, Litecoin As Payments Besides Bitcoin

Movie theatre chain AMC Entertainment Holding Inc. (AMC), plans to accept other cryptocurrencies like Ethereum and Litecoin in addition to Bitcoin as a mode of payment.

On Thursday, AMC CEO Adam Aron tweeted the company's plans to accept three other cryptocurrencies Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

"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," Aron tweeted.

Last month, AMC had initially unveiled plans to accept Bitcoin payments for online movie tickets before the end of the year.

Aron, during the company's second-quarter earnings conference call, said, "We are also in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe and we're quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrency."

Almost a year back, AMC was on the brink of bankruptcy, however, the company has witnessed a miraculous rise from that state, driven by by Reddit users. The company was known as "meme stock" after young investors started investing in the AMC stock.

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