AMC Customers Can Start Paying For Their Movie Tickets With Top Digital Currencies
Adam Aron has tweeted that AMC entertainment customers can now pay for movie tickets using BCH, BTC, LTC, and ETH. The company’s CEO also confirmed that customers could make payments using PayPal, Apple Pay, and Google pay.
AMC Movie Tickets Can Be Bought With Four Digital Currency Payments
Aron confirmed that these digital payments are responsible for 14% of their movie ticket sales. The last part of Aaron’s tweet suggested that Dogecoin is the next digital currency the movie giants intend to add to their list of acceptable digital currencies. Supporting Dogecoin payments for its movie tickets might come simultaneously with supporting Shiba Inu crypto payments based on recent polls conducted by the movie giants’ boss recently.
Shiba Inu’s ecosystem has been on a rapid rise since late last month and continues to enjoy broader adoption in various niches. Aron’s comments finally put an end to months of speculation about when the company will start supporting crypto payments for its movie ticket sales.
The Wait Is Finally Over
AMC had previously announced that it would support bitcoin payments for its movie tickets four months ago. Two months ago, Aaron said the delay in enabling crypto payments support was to accommodate other cryptocurrencies. But some industry analysts were expecting that there might be another delay following the results of recent polls which Aron conducted on its Twitter channel.
However, it would seem that AMC would support other cryptocurrencies now and add SHIB and DOGE later on. Early last month, the movie giants started supporting e-gift card purchases using several digital currencies, especially DOGE. AMC shares lost about 17% earlier in the week even though its reported earnings were better than forecasted. But yesterday, it rebounded slightly. The latest regulatory filing indicates that the movie giant’s boss sold over $26m worth of his AMC shares.
A Sharp Correction In The Crypto Market
After setting a new peak price of $69K, BTC dropped significantly afterward to around $63K before rebounding slightly to now trade at about $64K. The BTC crash also affected the altcoins as each of them underwent price corrections too. Thus, the overall evaluation of the crypto market was no longer up to $3 trillion.
Consequently, over $710m worth of leveraged positions has been liquidated—a figure representing a 14-day peak liquidation in the crypto market. Also, various metrics report a drop in open interest in the top two digital currencies. BTC’s open interest fell by about $2B, while ETH’s fell by approximately $1.1B.
Several analysts gave reasons for such fall and liquidation within such a short period. Some opined that the decline was a consequence of a sharp dip in the US stock market performance. Others opined that Evergrande’s loan payment issue may have triggered the decline.
There were rumors that the Chinese real estate conglomerate defaulted in its loan payment agreement. Hence, the crypto market dip occurred following an announcement by Deutsche Markt Screening Agentur (DMSA) that it would start the bankruptcy process against the company. However, BTC price started rebounding after a Bloomberg tweet clarified that the Chinese real estate giants haven’t defaulted in their loan agreement.
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