Mark Weaden
AMC top brass look to explore the possibility of accepting cryptocurrencies
AMC boss Adam Aron released a statement with regard to the company’s intention to try and start accepting Shiba Inu, as well as other various other cryptocurrencies like Bitcoin and Dogecoin. Moreover, there is talk of the theatre chain creating its own cryptocurrency, which would likely take off given the success of AMC on the internet as a meme stock company.
AMC already accepts Dogecoin in the form of digital gift cards. But, a company that won over the internet and made a lot of people rich during the pandemic, would likely win over people even more by offering crypto payment options.
AMC and Cryptocurrency
After winning over the hearts of the internet community, AMC appears to be toying with the idea of accepting the latest meme currency Shiba Inu (SHIBA) in exchange for actual goods and services. The company owes a lot to the online community, who practically saved the company through Reddit traders using the Robinhood trading platform.
The company’s CEO has been learning the meme reputation the company has gained in order to build its relationship with these shareholders. Having released the company’s crypto ambitions, it will build the necessary hype for any future launch. In fact, a Twitter poll about the possibility of expanding into crypto was met with great reception.
The plan would be to allow customers to purchase AMC gift cards using BitPay. AMC boss Aron stated around the time of the Tweet that “The IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others”.
AMC has already stated its intention to begin working with Bitcoin. But, meme coin Shiba Inu has seen its price surge to a new all-time high in recent weeks, as has been the case for the vast majority of cryptocurrencies. With Shiba Inu now commanding a similar portion of the overall crypto market as Dogecoin, it certainly becomes a very viable option for the company.
Looking further forward, Aron hopes to evolve the way it accepts crypto. Accepting gift cards is an effective method, but potentially launching its own cryptocurrency could be an even better option - even offering NFTs for major movie premieres. But, for now, we expect to see AMC begin accepting Bitcoin, Ethereum, Litecoin and Bitcoin Cash before the year is out.
