Bitcoin adoption is on the rise as the market has finally found the kind of stability that was lost amid the mid-May crash but once again, things are going back to normal. The on-chain analysis of the cryptocurrency suggests that investors are once again favoring Bitcoin and are more than ready to invest their money into the cryptocurrency once again. However, the non-financial adoption of bitcoin, which means in other various sectors of life such as in retail and e-commerce industry and the entertainment industry, is also something that is well received.
Recently AMC entertainment, singlehandedly the biggest cinema in the world, has announced to adopt Bitcoin as a source of payment method from the consumers. This is a long-overdue aspect of Bitcoin adoption that finally the entertainment industry is giving it some thought, it is not long before the film industry and Hollywood would be interested in the concept, giving way to NFT development and release for fans and clients. However, at present only AMC has taken the initiative and will be favoring the adoption of Bitcoin in all of its US locations and ticketing centers.
Entertainment Industry Finally Gives the Green Light to Crypto Payments
According to CEO Adam Aron, the company is looking forward to investing in the concerned technology that will be able to handle crypto payments and such in the near future; an expected trajectory is at the end of the year 2021. This is all that the company’s spokesperson has to say about Bitcoin adoption at the moment, it is not fully clear how the studio is going to enable the Bitcoin payments at the moment, but the timeline is pretty clear. Taking a bold guess, the very decision of the company moving in with Bitcoin payments may be the result of meme-stock mania, an initiative quite popular on Reddit. People are wildly sharing memes depicting AMC investing in bitcoin, and this little stunt has sent the price of AMC’s stocks skyrocketing. According to a recent update other than Bitcoin, the company is wildly looking forward to investing in other blockchain-oriented options; a complete plan will be laid out soon.
