AMC Theaters CEO Is Considering Adding Payment Support for DOGE By Year-End
Cryptocurrencies are gaining mainstream adoption by the day. The latest in a long list of companies is movie exhibition giant business AMC.
American Multi-Cinema Inc., popularly known as AMC, is stirring the market pool once more. This time, it is looking at the burgeoning crypto space.
DOGE Joins AMC Crypto Support
Following last week’s announcement by CEO Adam Aron to accept Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) as payment for online tickets by year’s end, the movie exhibition company is eyeing popular meme crypto Dogecoin.
In a Sept. 21 tweet, Aron sought the opinion of crypto enthusiasts in a poll asking if the company should add support for the parody coin. Users are expected to choose one of four options which show two variants of “Yes” and another two of “No.” So far, over 123,000 Twitter users have responded to the poll, with more than 90% supporting the idea.
AMC has had a bright start to the year after struggling for business during the Covid-19 lockdowns, which characterized most of last year. With the economic impact hitting hard as movie theatre lovers could not meet in groups, the company briefly considered shutting its doors.
Meanwhile, a string of unexpected good fortunes has seen AMC regain most of its lost business. One of its being the GameStop Saga which saw retail investors of the popular Reddit channel WallStreetBets face-off with Wall Street hedge funds. AMC became known as a “meme stock” following its meteoric rise, and the company has seen its stock value surge 2,100% year-to-date (YTD).
DOGE Keeps Making The Rounds
Popular meme coin DOGE has been a revelation and has one of the strongest fan bases in the crypto community. Although promising little functional use in real-world transactions, the first Shiba Inu is known to be courted by the likes of Tesla boss Elon Musk and billionaire investor Mark Cuban.
Even though several critics have pointed out that the DOGE frenzy will die down with time, Dogecoin has continued to grow by the day, momentarily becoming more valuable than Ford Motors and Twitter. The Bitcoin knock-off also led to the meme crypto revolution, with the likes of popular Dogecoin killer Shiba Inu making a full debut.
Given its strong fan base, Dogecoin is one of the most actively supported crypto assets besides Bitcoin and Ethereum. The joke cryptocurrency is available as a payment option on the Dallas Mavericks’ website alongside Newegg.
Also, SpaceX received payment for its Falcon X space rockets entirely in DOGE, with the space company planning to aid wider adoption of the meme cryptocurrency. Alongside this, EasyDNS and airline company AirBaltic are DOGE-friendly companies.
With meme cryptocurrencies becoming a fan favorite these days, Dogecoin might just end up proving its critics wrong.