AMC adds Ether and Litecoin to year-end crypto launch plan

AMC Entertainment will not only accept Bitcoin (BTC) payments for cinema tickets by the end of 2022, but also include other popular digital currencies in its cryptocurrency acceptance policy.

In a tweet on Thursday, the company’s CEO Adam Aron announced plans for AMC to accept three more cryptocurrencies – Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

As Cointelegraph previously reported, AMC initially announced plans to accept Bitcoin payments for online movie tickets before the end of the year.

At the time, Aron said moviegoers were eager to use cryptocurrency as a means of payment for tickets and deals at AMC locations across the United States.

The AMC director also said the company was working to perfect the necessary methods required for accepting cryptocurrency payments.

As with the August announcement, Aron’s tweet revealing plans for an expanded agenda for the introduction of cryptocurrencies has also drawn significant criticism from Dogecoin (DOGE) proponents for not being included in the popular “coin meme” .

AMC accepting crypto is also part of a growing trend with prominent retail companies enabling crypto payments in the US.

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The cinema operator’s plan to roll out crypto comes amid tough sales numbers after the post-2020 resurgence.

Amid the coronavirus lockdowns that dominated most of 2020, AMC saw a decline in sales, posting just $ 18.9 million in the second quarter of 2020. In the second quarter of 2021, the cinema operator had sales of 444 million US dollars.

This increase in sales is also accompanied by a sharp surge in the company’s share price. In fact, AMC was among several stocks that r / WallStreetbets group focused on on Reddit earlier in the year in the short story.

At the time of going to press, AMC stock is up more than 2,200%.