The announcement has led to a box office day for DOGE. The bullish news helped the No. 8 cryptocurrency hit highs of $0.2715. At one point, it was up about 8% from the 24-hour low of $0.2404.
AMC Theatres has offered a promising update as it gears up to accept cryptocurrencies by the end of the year.
The cinema chain’s CEO, Adam Aron, has revealed that a partnership with BitPay means AMC gift cards can now be purchased using a range of digital assets.
Crucially, the list of cryptocurrencies accepted includes Dogecoin — with AMC initially facing a vocal cry of discontent when the joke altcoin wasn’t included in the list of coins that plan to be accepted as a payment method.
Aron said that digital gift cards worth up to $200 a day can be purchased through BitPay, and they’ll be accepted on AMC’s website, app and in theatres too.
The announcement has led to a box office day for DOGE. The bullish news helped the No. 8 cryptocurrency hit highs of $0.2715. At one point, it was up about 8% from the 24-hour low of $0.2404.
Bouncing Back
The news comes as AMC dusts itself off following a bruising pandemic.
Last week’s release of No Time to Die gave a much-needed boost to ticket sales in Europe and the Middle East, with the Bond film “shattering” records. The blockbuster is going to make its debut in the U.S. later this week.
More than 2.4 million people also watched a movie in the U.S. over the weekend, fueled by the opening of Venom: Let There Be Carnage. Aron said:
“The success of these two new blockbuster movies, and of our theatres both at home and abroad, demonstrates the huge pent-up demand we see in moviegoers who are ever so eager to return to movie theatres. To the self-proclaimed sages who routinely and mindlessly predict the demise of cinemas, it is my view that it is simply wrong to underestimate the enormous consumer appeal and resilience of movie theatres.”
That’s likely a nod to the fact that AMC Entertainment faced a brutal short squeeze earlier this year — with a number of investors placing bets that the company’s stock price would fall. This led to a grassroots movement led by Wall Street Bets, who aggressively snapped up shares to ensure short sellers made a loss.
