The American cinema chain AMC wants to accept bitcoins as a means of payment before the end of the year. That said, CEO Adam Aron in an explanation of the company’s quarterly figures. Bitcoin has been on the rise in recent weeks.
The value of the critical crypto coin has risen by 19 percent in the past week. This makes the digital currency worth almost $ 46,000. Still, the currency’s value is still a long way from its mid-April peak. Back then, bitcoin traded for nearly $65,000.
After that, the price plummeted. According to experts, this was partly because Tesla stopped accepting payments in bitcoins due to environmental concerns. In addition, the Chinese government decided to take strict action against so-called bitcoin miners. Sentiment has now changed, but according to crypto experts, there is still a lot of uncertainty in the market.
AMC came after trading on Monday with better-than-expected results. Yet, the cinemas are still much less crowded than before the outbreak of the coronavirus. As a result, the AMC share traded sharply higher on Tuesday before the opening of the American stock markets.
AMC is a so-called Reddit share named after the internet forum Reddit where investors encourage each other to buy particular shares. As a result, small private investors also raised the company’s stock market value much higher earlier this year. However, they saddled professional investors who speculate on a fall in price, so-called short-sellers, with significant losses.