A cinema in Brazil is the first in the country to accept Bitcoin as payment

05 Feb, 2019
by Colin Hawkins
A cinema in Brazil is the first in the country to accept Bitcoin as payment

As reported by Medium, the cinema in question is called Cine Multi and is located in the Brazilian city Florianopolis. Making it possible to have Bitcoin as a payment option for their movie tickets is a big step for Brazil.

Although this is big news for the country of Brazil, they are not the first cinema to offer crypto as payment. In 2018 the largest movie theater chain in Thailand, Major Cineplex Group, started to accept crypto as payment for not only movie tickets, but concessions as well across their many locations.

Cine Multi is facilitating their Bitcoin payment option through a collaboration with the Bancryp app, which will take care of and facilitate all Bitcoin payments. Fernando Costa, the owner of the theater spoke on the idea to accept crypto payments at their theater:

“For Cine Multi, which already follows the path of culture, pioneering an innovative market is a huge step forward. Now all the customers besides being in a pleasant environment, will also be pioneers to pay a cinema with Bitcoins.”

As a country Brazil seems to have a positive outlook on Bitcoin and crypto. João Amoêdo a presidential candidate for Brazil spoke, in 2018, on what his thoughts of Bitcoin are:

“As a means of payment, I see no doubts that bitcoin can be understood as a legal payment method. If both parties want to exchange a product via bitcoin, I do not see any legal barriers to doing so.”

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Read more about: Bitcoin (BTC)


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