AMC Theaters Start Accepting Dogecoin Payments After Authorizing Bitcoin

[ad_1]

American movie channel AMC Theaters has officially authorized payments in the popular memes-based cryptocurrency, Dogecoin. The transaction will be facilitated by BitPay, a US-based Bitcoin payment service provider. People will be able to buy AMC gift cards with a maximum limit of $ 200 (around Rs. 14,970). Since these gift cards will also be able to be used in other stores, this development will indirectly propel Dogecoin into several businesses. Cryptocurrency is affordable, allowing more people to buy and use gift cards.

Adam Aron, CEO of AMC Theaters, announced the news on Twitter on Wednesday, October 6. Since then, the value of Dogecoin has increased by 5.59%. Elon Musk-backed crypto is currently trading at $ 0.26 (around Rs. 17).

Huge news for Dogecoin fans! As we are working to accept crypto payments online, you can now purchase @AMCTheatres digital gift cards (up to $ 200 per day) with Dogecoin and other cryptocurrencies using a BitPay wallet. Accepted on our website, mobile app and in theaters. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8

Adam Aron (@CEOAdam) October 5, 2021

The post excited Dogecoin supporters, after he continued to tweet Aron asking him to start accepting Dogecoin payments. AMC allows customers to purchase movie tickets through multiple cryptocurrencies, including Bitcoin Cash, Ethereum, and Litecoin, and benefit from concessions.

DOGECOIN IS HERE TO STAY !!! I would love to speak directly to Adam about some great plans for Dogecoin. Send me a DM.

Matt Wallace (@ MattWallace888) October 6, 2021

Much Wow !!! #AMC #APESNOTLEAVING https://t.co/pJH2NChBGK

Trey’s Magic Lamp (@ SlothLife10) October 6, 2021

Earlier in September, Aron posted a poll on Twitter, asking his 186,000 followers to help him make a decision regarding Dogecoin payments.

I sincerely want to hear your opinion, through this Twitter poll. By the end of 2021, AMC will use Bitcoin, Etherum, Litecoin, and Bitcoin Cash for online payments. I hear from a lot on my Twitter thread that we should be accepting Dogecoin as well. Do you think AMC should consider accepting Dogecoin?

Adam Aron (@CEOAdam) September 21, 2021

At the time, not only did majority voters (68%) vote in favor of Dogecoin, the post also caught the attention of Tesla CEO Elon Musk. Responding to a comment on Twitter, Musk said Dogecoin’s management fees should be reduced in order to make daily purchases viable for the average consumer.

Super important for Doge’s fees to drop to make things like buying movies viable

Elon Musk (@elonmusk) September 22, 2021

Crypto-payments have started to accelerate in some countries. In Switzerland, for example, cryptocurrency payments are now accepted by more than 85,000 merchants.

On April 21, WeWork, the popular office-sharing startup, announced that it would start accepting payments in certain cryptocurrencies.

Indian trading body Nasscom recently predicted that the crypto-tech industry will experience vast global expansion over the next five years. Its latest report estimates that the global crypto technology market will reach the value of $ 2.3 billion (around Rs. 17,087 crore) by 2026.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any loss resulting from any investment based on a perceived recommendation, forecast or any other information contained in the article.

[ad_2]