AMC Entertainment is one of the largest and biggest movie theater chains in the US. Last month in August, AMC CEO Adam Aron had hinted that the company will start accepting Bitcoin payment for movie tickets. In his latest Tweet, Adam has seen confirming that AMC will also accept Dogecoin payment.
Dogecoin is a popular meme coin traded with the symbol DOGE. Dogecoin recently gained traction after the billionaire Tesla CEO and technoking Elon Musk started promoting the coin publicly. Dogecoin is currently the 10th largest crypto in the world by market cap according to CoinMarketCap data.
The world is moving towards crypto adoption starting with 2021. Many countries and institutions are showing interest in digital currencies and their applications. However, there are still open questions on regulations and their acceptance as either currency or asset. Countries like El Salvador had already made Bitcoin a legal tender and official currency while other Central American countries like Prague, Panama, Brazil are also following the likes of El Salvador and soon announce their stand on cryptocurrencies.
Other larger economies like India are yet to take a stand on whether to completely ban crypto or to regulate it. One thing is clear, countries that had banned crypto in past are now very well aware that they can’t simply shut their door to the future of technological innovation and advancement.
Also read - AMC will accept bitcoin for movie tickets
Coming back to AMC, during the last month’s earning calls, AMC CEO Adam had announced that the company is preparing IT infrastructure to accept bitcoin by end of this year. In the latest tweet on 22nd September, Adam also confirmed that based on users’ demand, the company will also plan to accept Dogecoin as a payment option.
AMC will have to look for a technical solution that will make it possible for its theaters to accept the meme cryptocurrency for ticket purchases. The cinema theater giant will also add Bitcoin, Ethereum, Bitcoin Cash, and Litecoin payment options by the end of 2021.
AMC is not the only large company thinking to accept bitcoin, dogecoin, and other cryptocurrencies but all major financial institutions now have crypto holding on their books. Citi Bank, JP Morgan, etc have already announced their stand on crypto and agreed to provide financial service to wealthy clients. Tesla, the largest electric car manufacturer was also in favor of accepting bitcoin payment for car purchases but had to stop due to energy concerns over Bitcoin mining. Now, that problem already seems to be solved, Tesla is re-thinking its stand on crypto payments. Nevertheless, Tesla is also among large companies that have Bitcoin on their account books already. Microstrategy is another major IT giant that has accumulated a wholesome of Bitcoin over the last few years.
Crypto and bitcoin is also been accepted by Paypal and are available in few countries like the UK for payment options etc. eBay is also looking to start accepting cryptocurrencies in near future. Other major brands that are accepting cryptocurrencies in selected geographies are Starbucks, BurgerKing, Yum Brands, which operates KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, Coca-Cola, etc. Apple and Amazon have also seen hiring crypto experts and are likely to start integrating crypto payments soon. ApplePay is already integrated into Coinbase, one of the largest crypto exchanges in the world.