US theatre chain AMC's CEO announces that crypto now accounts for 14% of online transactions
The CEO of US movie theatre chain AMC tweeted that its crypto payment option now accounts for 14% of total online transactions. The company started accepting bookings via cryptocurrencies like BTC, ETH and Litecoin just 2 months ago.
Why is AMC into Crypto? This is because 80% of the shareholders are the retail investors who rallied together on Reddit’s r/wallstreetbets through memes to help keep the company alive at the beginning of the year. AMC started the year priced around $3, the investors propelled it to highs of over $60 in June. Since then, it’s cooled off and now trades at around $40 a share.
CEO Adam Aron said that “We work for them. I work for them. By definition, their interests and passions are important to AMC; their ambitions and passions are important to me.”
Dogecoin next? The AMC CEO posted a Twitter poll on whether the firm should accept payments in the meme coin soon after adding crypto payment options. With an overwhelming number of people in favour, AMC added Doge as a payment option for its digital gift cards in October—but it has yet to introduce Dogecoin for purchasing full-fledged online tickets.