AMC now recognizes Dogecoin as a cryptocurrency that can be used to buy digital gift cards. The company's CEO, Adam Aron, officially made the announcement regarding AMC's acceptance of Dogecoin.
AMC CEO on Dogecoin
AMC CEO Adam Aron released "Huge news" to Dogecoin fans noting that they will be accepting online crypto payments in order to buy AMC Theater digital gift cards. Buyers can use Dogecoin along with other cryptocurrencies through the use of BitPay Wallet which is now accepted on their website, mobile app, and even in theaters.
There is a limit to this purchase, however, as buyers will only be able to get up to $200 per day. In order to purchase these AMC digital gift cards with Dogecoin, buyers first need to sign up for BitPay, which is an Atlanta-based crypto payment processor that also provides digital gift cards for other online retailers, which include GameStop, Amazon, and Home Depot.
AMC Digital Gift Cards
According to CNet, AMC's very own gift cards can be used in order to purchase movie tickets as well as concessions. As of the moment, however, it is still not entirely clear on AMC's own website if the digital gift cards can be used the exact same way.
AMC's new move to accept Dogecoin actually follows a poll that was made by Aron on Twitter back in September regarding which cryptocurrencies the company should accept. The poll got a 68.1% "Yes, for sure do it" vote out of over 140,000 responses.
AMC and 'Meme Stocks'
Ever since being caught up in the whole stock market frenzy, which was initiated by traders that were coordinating in a certain Reddit forum, AMC's stock has actually experienced some pretty wild fluctuations. The company has reportedly worked along with mixed results in order to harness investors' very own energy and enthusiasm in "meme stocks" in quite a variety of ways.
This included the introduction of the AMC Investor Connect as well as the announcement to be accepting Bitcoin by the end of 2021. This particular decision to accept Dogecoin can reportedly be seen as yet another effort towards that vein.
Dogecoin Rose to Popularity
In January of 2021, the value of Dogecoin reportedly rose over 300% over the course of just a few days. This is a swing that was attributed, in part, to the promotion of Elon Musk on Twitter. Elon Musk has even pointed out Dogecoin nodes which include software security and the whole growth of cryptocurrency.
Aside from boosting the short-term value of Dogecoin, Musk's promotion has reportedly been helping Dogecoin become a major part of the more popular lexicon. In just a single tweet, Elon Musk even shared an image of a certain fake magazine which was called "Dogue" with a certain dog-themed cover. In order to understand Elon Musk's fascination with Dogecoin, check out the history of Dogecoin.
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Written by Urian B.