Movies Plus recently made an exciting announcement, revealing that they have started accepting Bitcoin as a payment option on their streaming platform. This move puts them in good company alongside other major companies such as Wikipedia and Microsoft, who also accept Bitcoin as a form of payment.
BREAKING 🚨
Movies Plus becomes the first streaming platform to accept Bitcoin!
You can now pay for your Movies Plus subscription in Bitcoin!
Click the 🔗 in our bio and see for yourself. pic.twitter.com/34UbbRh7Ct
— Movies Plus (@MyMoviesPlus) March 12, 2024
In order to facilitate Bitcoin payments, Movies Plus has teamed up with Flash, a payment processor that utilizes the Bitcoin Lightning Network. The Lightning Network is a layer 2 solution that aims to enhance Bitcoin’s scalability by enabling faster and more energy-efficient transactions through micropayment channels separate from the main blockchain.
This latest development makes Movies Plus the first streaming platform to accept Bitcoin payments. Interestingly, other streaming giants like Netflix and Hulu have yet to follow suit and do not currently support Bitcoin or any other cryptocurrencies.
While Netflix has featured documentaries about cryptocurrencies, their stance on Bitcoin remains unclear. In 2022, Netflix banned crypto advertisements along with those related to politics and gambling. However, in 2016, Netflix’s former legal officer, David Wells, expressed openness to Bitcoin payments. Unfortunately, no further progress has been made in that regard, and Wells himself left Netflix in 2018.
The adoption of Bitcoin and other cryptocurrencies is steadily increasing, with a notable number of companies now accepting them directly or through third-party services, as reported by Crypto.com.