AMC, the largest theater chain in the United States, will accept Bitcoin to purchase movie tickets by the end of the year

AMC Entertainment CEO Adam Aron said during Monday’s quarterly earnings call that the company is building a way to support Bitcoin payments.

Crypto is expected to become a supported payment method at AMC Theaters before the end of this year. Please prepare our popcorn.

Aron pointed out during the earnings call that AMC will support all theaters in the United States to use Bitcoin to pay for movie tickets online and receive discounts.

The move attracted two high-profile investments that have made headlines this year.

Bitcoin is considered the leading asset in the crypto space. In reddit r/wallstreetbets saga this year, AMC merged with the likes of Gamestop ($GME). AMC shares surged more than 1,000% during the retail recovery.

This week’s results showed AMC doing better than expected, including revenue that topped analysts’ expectations. Although the loss per share was $0.71, it was higher than expectations of $0.91.

By the end of June, all theaters in the United States have opened, including approximately 95% of international theaters. In the second quarter of this year, the company welcomed 22 million guests.

Aron is optimistic that the fourth quarter could be the quarter in which the company turns a profit. AMC will also explore new commercial content such as sports and pre-recorded concerts.

Additionally, in addition to Bitcoin, AMC is expected to start integrating Google Pay and Apple Pay. On the day of the conference call, AMC's stock price rose more than 3%.

Of course, AMC is not the first or last company to adopt Bitcoin.

AMC will join the growing list of publicly traded companies that are adopting Bitcoin in their businesses in some way.

Though Tesla stopped accepting Bitcoin in mid-May, citing environmental concerns. However, Tesla, led by Elon Musk, already accepts Bitcoin as short-term payment for its cars.

Since then, Musk has expressed his preference for Bitcoin, including most recently its use of renewable energy. However, it remains to be seen whether this will change Tesla's previous policies.

Of course, fintech and related companies like Square and MicroStrategy have been adding Bitcoin to their balance sheets.

PayPal has also become more crypto-friendly recently. In recent weeks, Elon Musk has suggested that Tesla may have as many as 42,000 BTC.

Sotheby’s auction house recently started accepting crypto payments, and its NFTs have also entered the market. More non-traditional companies are joining the ranks, including Microsoft's Xbox and Starbucks. They are working with bakkt to explore crypto payments.

Whether AMC can open the door to the crypto space for more “non-crypto-first” companies to integrate crypto payments in the United States remains to be seen.

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