Published , by Donovan Erskine
Published , by Donovan Erskine
AMC has been one of the more interesting companies to keep eyes on this year, as its stock became the subject of short squeezes similar to what GameStop (GME) experienced earlier in 2021. With that, many have been keeping up with the business moves of the movie theater company, and a new quote from the CEO may indicate what we can expect from them down the road. During an interview, AMC CEO Adam Aron implied that the company may look into distributing and accepting cryptocurrency at some point in the future.
AMC CEO Adam Aron was being interviewed by CNBC on October 19 at the Milken Institute Global Conference, an annual event where some of the biggest executives come together to discuss social and economic issues. It was here that Aron spoke about cryptocurrency, as well as how his company’s relationship with it may change in the future.
“We’ve made a lot of noise in the last few months about getting active in cryptocurrency,” Aron said. Back in August, AMC shared its plans to accept Bitcoin as a payment method by the end of 2021. In September, the CEO expressed an interest in accepting Dogecoin as well. Adam Aron went on to explicitly state that AMC could potentially distribute cryptocurrency at some point. “There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency.”
If AMC were indeed to begin widely issuing and redeeming cryptocurrency, it would be a rather big deal. For as big as crypto has become, it’s failed to gain widespread acceptance from a lot of retailers. One of the biggest theater chains in the world deciding to accept it would be a massive move towards it becoming more of a mainstay.