What’s Going on with AMC Entertainment Holdings, Inc.?
AMC Entertainment Holdings, Inc. (AMC) boss and CEO Adam Aron has just announced that AMC will soon be accepting other cryptocurrencies, in addition to the previously announced acceptance of Bitcoin. Before market open this morning, AMC stock was trading at $46.45 per share, which is a 0.83% decline in price.
What Does This Mean for AMC?
AMC CEO Adam Aron recently announced, via a tweet, that the theater chain will soon be accepting other cryptocurrencies:
"Cryptocurrency enthusiasts: as you likely know @AMCTheatres has announced that we will accept Bitcoin for online tickets and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash."
It seems AMC is positioning itself to take advantage of cryptocurrency’s increasing popularity and normalization around the world as a currency, despite El Salvador’s rocky start as the first nation to ever adopt Bitcoin as official legal tender.
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AMC Entertainment Holdings Inc is involved in the theatrical exhibition business. It owns, operates or has interests in theatres located in the United States and Europe. It provides best-in-class amenities such as plush, power recliners, MacGuffins full bars, AMC Dine-In Theatres, premium presentation. The group operates in U.S. markets and International markets.