AMC Entertainment Starts Accepting Cryptocurrencies for Payment

cryptocurrency market
cryptocurrency market

AMC Entertainment, the largest U.S. theater chain is now accepting cryptocurrencies as a payment method. According to a tweet by the company’s CEO Adam Aron late Thursday, AMC now accepts four cryptos for payment.

“Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… bitcoinetherbitcoin cash, and litecoin,” he said.

Additionally, Aron said that AMC now accepts Apple Pay, Google Pay, PayPal and “Dogecoin [is] next.”

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Aron spoke about the possibility of adding cryptocurrencies as payment methods several times. In September, he said that AMC will accept cryptos for payment by year-end.

Although the company doesn’t accept Dogecoin for payment yet, users can still purchase AMC’s gift card with meme-based cryptocurrencies. It includes a purchase of up to $200 a day using BitPay Wallet.

In a recent Twitter poll, Aron asked whether AMC should accept payment in Dogecoin. The survey amassed 140,000 votes, of which 68.1% favored the decision.

Furthermore, during AMC’s earnings call in November, the movie theater chain teased the possibility of adding Shiba Inu after large demand from the SHIBarmy. The new-meme-based token SHIB has been leading a strong rally year-to-date. In another Twitter poll by Aron, 81% of the 153,000 voters backed the idea of adding Shiba Inu as a payment method on AMC’s online platforms.

AMC turns into a meme stock

AMC seems to be paying back the meme-based traders. In recent years, the movie theater almost went bankrupt. However, earlier this year, the meme stock frenzy has pushed the company’s stock to high prices. GameStop was also one of the companies that profited form the meme stock frenzy.

In return, Aron embraced the fact that his company is considered a meme stock. For instance, Aron even reached out to retail investors using Twitter and YouTube videos.

In October, Aron said that AMC is now considering issuing its own cryptocurrencies. However, he didn’t provide any details regarding the matter.

AMC shares have surged 1,600% so far this year.