NewsletterAMC Records Huge Success With Crypto Payment Option, As Meme Stock Surges
When Movie theater chain AMC added crypto payment options in September, the company must have surely planned for success but maybe not quite as fast. Now barely two months after however, the company has started accepting payments in Bitcoin, Litecoin, Bitcoin Cash and Ethereum, and according to the CEO, the crypto payments have been confirmed to represent no less than 14% of the company’s total online transactions.
AMC CEO Expressed Delight, Hints At Additional Payment Option
Taking to his Twitter page, CEO of AMC Adam Aron said that the company has delivered on its promise to integrate many payment options. In his list, he mentioned Bitcoin, Litecoin, Bitcoin Cash and Ethereum, and then added PayPal, Google Pay, and Apple Pay as other payment options that AMC is now accepting. Interestingly, “they already account for 14% of our total online transactions”, says Aron. Truthfully, this goes to show a laudable increase in crypto adoption by customers of AMC customers.
Aron didn’t stop there. He also hinted at later addition of Dogecoin as a payment method in the concluding part of his tweet, saying “Dogecoin next.”
Recall that soon after integrating the crypto payment options in September, the AMC CEO conducted a Twitter poll seeking the opinions of users on whether the firm should also accept payments in the meme coin.
That poll saw an unbelievable number of response in favor. But even though the firm added DOGE as a payment option for its digital gift cards since last month, it still hasn’t introduced Dogecoin as a fully-fledged option for payments such as for online tickets.
AMC Sees Meme Stock Rise
2021 has been a great one for AMC, with the firm seeing its fortunes change for good in the “meme stock” boom alongside video game retailer GameStop.
Starting the year at a price of about $3, it caught the eyes of retail investors on platforms like Reddit, which saw it hitting highs of over $60 in June. Though it has retraced since then, but presently, it’s trading at around $40 a share.
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