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Brazil’s Cine Multi now accepts Bitcoin ticket payments

A Brazilian cinema has begun offering customers the option to pay for their ticket with the cryptocurrency, Bitcoin.

Cine Multi in the city of Florianopolis claims to be the first movie theatre in the South American country to offer the payment option.

The alternative payment has been made possible through a partnership with the Bancryp App, which will facilitate the Bitcoin ticket payments.

The owner of Cine Multi, Fernando Costa, said: “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.”

However, Cine Multi is not the first cinema globally to offer crypto payments. In 2018, the Major Cineplex Group in Thailand began accepting the blockchain payment method for movie tickets and concessions across many locations.

The cinema’s move comes at a time when Bitcoin and other cryptocurrencies are falling rapidly. As of today (Tuesday), Bitcoin (BTC) sits at $3,459.89 (£2,660/€3,031), Ethereum is at $107.57, and Ripple (XRP) is at $0.29. At its highest point, Bitcoin reached $19,783.21.

Image: Bancryp