Nothing’s gonna save the cinema industry.
It was already dying before the corona hoax, and that just accelerated everything.
Still, every time a big corporation like this starts accepting Bitcoin, it’s a step in the right direction for everyone.
AMC, the US cinema chain that owns Odeon, says it will allow customers to pay for movie tickets and concessions in Bitcoin by the end of the year.
Boss Adam Aron said it has been exploring the technology and “how else AMC can participate in this new burgeoning cryptocurrency universe”.
The firm, which is the largest US cinema chain, has not said whether it will apply to its cinemas in Europe.
Bitcoin has seen wild price swings in recent weeks.
The highly-speculative cryptocurrency was trading at about $45,000 (£32,500) on Tuesday, after falling below $30,000 last month.
However, an increasing number of businesses have begun to accept it as payment as it goes mainstream, including US mobile operator AT&T, Microsoft and Wikipedia.
“I’ve had to learn more in the past six months about blockchain and cryptocurrency than I learned about it in the entire decade before that,” Mr Aron, 66, told journalists on a conference call.
“This increased knowledge has given me the confidence to tell you all today that AMC is hereby formally announcing… that by year’s end we will have the information technology systems in place to accept Bitcoin.”
‘Meme stock’Commentators suggest AMC is trying to appeal to young amateur traders that have piled into its own shares over the last six months, turning it into a so-called “meme stock”.
Banding together on the social media site Reddit, these investors have driven up the price of AMC stock by some 1,500% this year – although it has little bearing on the struggling chain’s actual financial performance.
Following the Bitcoin announcement AMC shares jumped almost 6% on Tuesday before falling back.
If anything other than a Marvel movie was playing, I would go to AMC theaters just to pay in Bitcoin.
Actually, no – I’m keeping all my Bitcoin.
But I would go to show support.
Unless it was Marvel.