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Know your meme
AMC has started accepting payments for its digital gift cards in Dogecoin and other cryptocurrencies. CEO Adam Aron announced this on Wednesday via Twitter.
Big news from Dogecoin fans! While we are working on accepting online crypto payments, you can now purchase @ AMCTheatres digital gift cards (up to $ 200 per day) of Dogecoin and other cryptocurrencies through a BitPay wallet. Accepted on our website, in the mobile app and in the theater “, Aron tweeted.
To purchase AMC’s digital gift cards from Doge, you must sign up for BitPay, an Atlanta-based crypto payment processor that also offers digital gift cards for other well-known retailers such as Amazon, GameStop, and Home Depot. AMC gift cards can be used to purchase Movie tickets and discounts – It is not entirely clear on the AMC website whether digital gift cards can be used in the same way. AMC did not immediately respond to a request for comment.
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AMC’s move to accept Dogecoin follows a survey by Aron in September on Twitter about which cryptocurrencies the company should accept. Of more than 140,000 answers, 68.1% voted “Yes, definitelyâ€.
I sincerely want to hear your thoughts on this Twitter poll. By the end of 2021, AMC will use Bitcoin, Etherum, Litecoin and Bitcoin Cash for online payments. I hear from many on my Twitter feed that we should also accept Dogecoin. Do you think AMC should look into Dogecoin acceptance?
– Adam Aron (@CEOAdam) September 21, 2021
Ever since I was trapped in a stock market frenzy initiated by traders who coordinate themselves in a Reddit forum, the share found out about AMC wild fluctuations. The company has worked with mixed results to harness the energy and enthusiasm of investors in “Meme stocks“in a variety of ways, including the introduction of AMC Investor Connect and accept the announcement Bitcoin by the end of 2021. The decision to accept Dogecoin can be seen as yet another attempt in this vein.
Dogecoin rose in value in January more than 300% over the course of a few days – a momentum partly attributed to Elon Musk’s advertising on Twitter. In addition to increasing its short-term value, Musk’s promotion helped Dogecoin become a part of the popular lexicon. In one tweetMusk shared a picture of a fake magazine called “Dogue” with a dog cover.
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AMC’s decision to accept payments in Dogecoin brings together some strange financial stories that were a hallmark of 2021. While it will almost certainly generate interest online – Aron’s September tweet generated considerable pull – it remains to be seen whether it actually pays off.
SO FASCINATING! Dogecoin Poll was by far the best tweet I have ever read. In 24 hours, 4.2 million views, most retweets, most replies. 140,000 votes 77% yes 23% no. It is clear that you are thinking that AMC should accept Dogecoin. Now we have to figure out how to do it. Stay tuned! pic.twitter.com/tkClzgMBMO
– Adam Aron (@CEOAdam) 09/22/2021
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