AMC is now looking to accept Dogecoin as payment for its theater tickets. This development comes after AMC CEO Adam gave his followers on Twitter a poll on AMC accepting crypto for its payments. The poll attracted nearly 80% of the respondents saying AMC should accept the crypto.
According to the poll, the followers were head over heels for Doge’s inclusion by AMC into the list of cryptos accepted by AMC for payments.
According to Adam, the company needs to figure out how to do it. This post has attracted a fanbase and great support for AMC shares which jumped almost 1800%. AMC is also planning to implement payments options for other cryptos.
According to PYMNTS, AMC allowing crypto for payment was a way for the company to reinvent itself in the wake of the pandemic that swept the whole world. Many customers are now willing to pay for the services with crypto. Furthermore, research suggests that almost half of customers globally use cryptocurrencies with a minimum transaction going for $100.
Now they desire to pay for even small things like theater tickets with crypto. In addition, around 20% of the population in the world supports the use of crypto. However, the volatility in crypto still makes it hard to work out the details of how to go about this procedure.
AMC’s Wide Adoption of Crypto
AMC is a large entertainment company. Nearly falling into bankruptcy, the company investors came in to support it from sinking. After that, investors have gone into the wide adoption of Cryptos, seeking to raise and stabilize the company. Already in adoption are BTC, ETH, BCH, and LTC.
The news came in a tweet from AMC CEO, and days later, he suggests Doge’s inclusion into the list. There are reasons to believe that Shiba Inu and will include it in the list of crypto.
In addition, the company is preparing to create its crypto, which will be a good move after AMC’s CEO fully embraces the theater chains as a meme stock.
What is Dogecoin?
Dogecoin is a meme that has recently been enjoying the support of Elon musk, making it rise again. According to the CEO, AMC will begin accepting Dogecoin by the end of the year. Several companies are using dogecoin as a means of payment, including the Dallas Mavericks and Car Dealer Post Oak Motors.
Currently, Dogecoin, with the support of Elon musk, is topping up among the top ten most valuable coins in the world. The coin now has a market cap of over 32 billion, according to Coingecko. Even though the meme coin is receiving a lot of rival SHIB, the coin is doing well, with many accepting it for payments and others stocking it into their Doge wallets.
AMC is now the first theater chain to accept crypto as a payment option. The decision to include Doge comes after AMC narrowly escaped bankruptcy earlier this year.