Should AMC Make a Billion-Dollar Bet on Bitcoin in 2022?
A few companies have started adding Bitcoin (CRYPTO: BTC) to their balance sheets as a substitute for ultra-safe cash and bonds. Others have taken advantage of skyrocketing share prices by issuing new stock certificates. A handful of brave corporations have even combined the two strategies lately, raising cash through stock offerings and investing some or all of it into Bitcoin tokens.
Movie theater operator AMC Entertainment Holdings (NYSE: AMC) raised $2.06 billion of cash over the last four quarters, staving off the threat of bankruptcy in a time of coronavirus restrictions and deeply negative cash flows. Should AMC convert some of its sorely needed cash reserves into digital coins?
Some would call it a reckless move, and they aren't wrong. However, the idea isn't completely crazy -- as long as AMC goes deeper into the cryptocurrency market with some caution.
Source Fool.com
