US cinema chain AMC Theaters has recently announced it plans to add support for Bitcoin payments. As a result, users will be able to pay for their tickets using Bitcoin by the end of the year, The Wrap reports citing the company’s CEO Adam Aron.
According to the company, the aim of the initiative is to increase sales, which have been severily affected by the covid-19 pandemic. AMC, which owns 593 cinemas in the United States and 335 abroad, attracted $917 million in January to avoid bankruptcy.
AMC reported losses of $344 million from March to June 2021, a figure that exceeded Wall Street analysts’ forecasts of $440 million.
Since the beginning of the year, the company’s shares have jumped by 1,600%, from $2 to $34.