Popcorn and cryptocurrency - Bitcoin soon to be accepted in hundreds of movie theaters

By: Bharggavi Ssayee

Popcorn and cryptocurrency - Bitcoin soon to be accepted in hundreds of movie theaters

August 14, 2021 2:52 AM

The adoption of Bitcoin and cryptocurrency continues slowly, but unstoppably. Even though Elon Musk is still waiting a while before re-authorizing Bitcoin to buy his Tesla cars, a major US movie theater chain is taking the plunge, and will soon accept satoshis to pay for admission tickets.


Thousands of movie theaters will accept BTC

Although Bitcoin is often considered a good safe haven against fiat currencies inflation (or even their hyperinflation, as in Venezuela), it was first and foremost thought of as a decentralized currency and payment network by Satoshi Nakamoto.


A further step in this direction will be taken by AMC Entertainment, a giant of cinemas in the United States. Founded in 1920 with a single cinema at the start, this large group now has nearly 8,000 theaters and 620 theaters in the United States.


As Bitcoinist reports, AMC Entertainment CEO Adam Aron announced at a group's quarterly earnings conference that its theaters will soon support bitcoin payments.


Purchases of satoshis tickets by the end of 2021

AMC Entertainment, which is also a company listed on the Chicago Stock Exchange, will therefore put in place all the IT and blockchain logistics necessary to accept Bitcoin by the end of this year 2021.


With more than 22 million moviegoers hosted in its theaters during the second quarter of the year, a large audience will now have this payment alternative for their movie tickets.


The only downside is that these purchases via Bitcoin can only be done online for the moment, its location in physical theaters has not been mentioned.


The more time passes, the more Bitcoin and cryptos are accepted on massive scales. Just last week, Project Dash announced DASH payments at 155,000 businesses in the United States.