By Mike Murphy
AMC on Wednesday expanded the range of cryptocurrencies it soon plans to accept for movie-ticket and concession purchases.
In its second-quarter earnings report in August, AMC Entertainment Holdings Inc. /zigman2/quotes/200235402/composite AMC -4.01% , the nation’s largest movie-theater chain, announced it would accept bitcoin /zigman2/quotes/31322028/realtime BTCUSD -0.04% for online ticket and concession purchases before the end of this year. In a tweet Wednesday, AMC Chief Executive Adam Aron said Ethereum /zigman2/quotes/108573964/realtime ETHUSD -0.20% , Litecoin /zigman2/quotes/108573968/realtime LTCUSD -0.15% and Bitcoin Cash /zigman2/quotes/108573970/realtime BCHUSD +0.16% will also be accepted.
During the August earnings call, Aron said AMC will also accept payments through Apple Inc.’s /zigman2/quotes/202934861/composite AAPL +0.15% Apple Pay and Alphabet’s /zigman2/quotes/202490156/composite GOOGL +0.08% /zigman2/quotes/205453964/composite GOOG +0.26% Google Pay by year’s end.
A growing number of companies are accepting bitcoin and other cryptocurrencies as payment, including PayPal Holdings Inc. /zigman2/quotes/208054269/composite PYPL -5.86% and Square Inc. /zigman2/quotes/205989440/composite SQ +3.81% . Earlier this year, Tesla Inc. /zigman2/quotes/203558040/composite TSLA +3.26% made a splash after announcing it would accept bitcoin for payments, then halted those plans in May after CEO Elon Musk raised concerns about crypto mining’s effects on global energy usage.
AMC shares are up an astounding 2,100% year to date, thanks to the meme-stock frenzy earlier this year, though they have slumped 15% over the past three months.