AMC Theaters Will Accept Bitcoin by the End of 2021

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AMC Theaters Will Accept Bitcoin by the End of 2021
Image via: Wikimedia Commons

You’ll soon be ready to buy your movie ticket and popcorn using cryptocurrency.

The next time you would like to observe a movie on the large screen, you would possibly be ready to buy your ticket with Bitcoin. AMC Theaters plans on letting customers buy movie tickets and concessions with the cryptocurrency by the top of 2021.

AMC to Accept Bitcoin Payments Online

In an earnings call with investors, AMC CEO Adam Aron stated that AMC would “have the knowledge technology systems in place” to start out accepting Bitcoin payments for tickets, popcorn, and drinks before 2021 involves an in-depth.

While this is often exciting news for Bitcoin holders, it does accompany a caveat: AMC will only accept cryptocurrency payments online. This may mean if you’ve bought a medium popcorn online but decide you would like an outsized once you get to stage, you’ll be unable to vary your order.

But at now, it’s still unclear how precisely the payments will work or if you will be ready to modify your purchases at the stage. However, we know that paying with Bitcoin comes with transaction fees that you won’t want to feature to a dear bag of popcorn.

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At this point of writing, Bitcoin’s average transaction fee is $2.53, which suggests you will have to tack that on to your total. However, Bitcoin’s transaction fee consistently fluctuates and spikes to just about $63 in April 2021.

In other words, you would possibly want to hand over cash or credit on days when Bitcoin’s transaction fee is exorbitantly high. Aron also added that AMC will start accepting Google Pay and Apple Pay, which is always an option.

AMC’s decision to accept Bitcoin was made with investors in mind. Reddit’s meme stock surge made AMC one among the foremost talked-about stocks on the market and attracted a slew of young investors who dabble in cryptocurrency.

Will You Pay for Your Popcorn With Bitcoin?

AMC is not the first large corporation to weigh the thought of accepting Bitcoin as payment. For example, Elon Musk announced that Tesla would buy bitcoin in March 2021 but quickly walked back on his decision thanks to Bitcoin’s negative impact on the environment.

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While it seems that more companies are beginning to open their doors to Bitcoin, can we ever expect the cryptocurrency to travel mainstream? Moreover, Bitcoin’s price is highly volatile, which could steer corporations away. That said, it’ll be interesting to ascertain how AMC’s Bitcoin plan plays out, and if all goes well, perhaps other companies will imitate.