AMC Chief Has Dogecoin on His Radar
AMC Entertainment CEO Adam Aron is exploring adding meme coin Dogecoin as a payment method at the movie chain. Aron has launched a Twitter poll to gauge the interest of followers to pay for tickets and snacks with popular cryptocurrency Dogecoin.
So far, Aron’s survey has received nearly 75,000 votes across four possible options. Aron not only wants to know what his followers think but also whether or not they would actually use Dogecoin to pay at the theatre. While the votes are still coming in, so far nearly three-quarters of the poll participants are in favor of Dogecoin at AMC.
I sincerely want to hear your opinion, via this Twitter Poll. By year-end 2021, AMC will take Bitcoin, Etherum, Litecoin and Bitcoin Cash for online payments. I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?
— Adam Aron (@CEOAdam) September 21, 2021
Dogecoin Community Influence
AMC became something of a target on social media after Aron recently expanded the list of supported cryptocurrencies but left out Dogecoin. Instead, he announced support for Ethereum, Litecoin and Bitcoin Cash.
Dogecoin fans were quick to express their disappointment that the meme coin was not included. After all, Dogecoin has become one of the most high-profile cryptocurrencies since gaining the endorsement of Tesla CEO Elon Musk.
Instead of choosing Doge, Aron went for less popular cryptocurrencies such as Litecoin. Incidentally, Dogecoin was formed as a fork of a blockchain called Lucky Coin, which itself was a fork of Litecoin. For its part, Litecoin is a fork of leading cryptocurrency bitcoin.
Whether Crypto Twitter has enough influence to sway AMC remains to be seen. Aron’s poll is getting a great deal of support, including from Musk himself, who “liked” the tweet.
Dogecoin and AMC have something in common. Both assets have gained popularity for their meme status. Dogecoin was created as a joke but the project, which is famous for its Shiba Inu mascot, has taken on a life of its own.
As the ninth biggest cryptocurrency, Dogecoin currently has a market cap of $27 billion. The stronger the use case for the cryptocurrency, the greater the potential for the Dogecoin price, and investors know that.
AMC reached meme-stock fame after it became a favorite on the WallStreetBets subreddit. The stock was in the doldrums and heavily shorted during the pandemic, and retail investors have helped to give the company a new lease on life. The stock is up more than 2,000% year-to-date.