$AMC Entertainment(AMC.US)$ CEO Adam Aron said Tuesday that the theater chain will accept Dogecoin (CRYPTO: DOGE) for the sale of digital gift cards.
What Happened: Aron announced on Twitter that AMC will sell digital gift cards up to a value of $200 a day with DOGE and other cryptocurrencies using a BitPay Wallet.
The gift cards are accepted on the AMC website, mobile application, and in theaters, as per Aron.
Huge news Dogecoin fans! As we work to accept online crypto payments, now you can buy @AMCTheatres digital gift cards (up to $200 per day) with Dogecoin and other cryptocurrency using a BitPay Wallet. Accepted on our web site, mobile app, and in theatres. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8
— Adam Aron (@CEOAdam) October 5, 2021
YouTuber Matt Wallace noted the development in a tweet and said, “When we work together and stay strong anything is possible.”
AMC NOW ACCEPTS DOGECOIN FOR GIFT CARDS!!! Right now there is only one major company in the world that accepts crypto and it is #Dogecoin. Think about that! When we work together and stay strong anything is possible. TO THE MOOOOOOOOOOOON!
— Matt Wallace (@MattWallace888) October 6, 2021
“AMC NOW ACCEPTS DOGECOIN FOR GIFT CARDS!!! Right now there is only one major company in the world that accepts crypto and it is #Dogecoin.”
Aron’s announcement was also applauded by some others on Crypto Twitter.
LFGO! #Dogetothemovies #DogeCoin #AMC https://t.co/MB4ynQLukR pic.twitter.com/8OmT9ncUk2
— GOĐOGE (@GoDogeArmy) October 6, 2021
pic.twitter.com/egymNLuSWm
— Isabel (@Isabelcrishill) October 6, 2021
DOGE traded 2.3% higher over 24 hours at $0.25. For the week the Shiba Inu-themed coin has shot up 26.89%.
Since the year began, DOGE has soared 4425.05%.
Why It Matters: AMC recently announced that they would accept some popular cryptocurrencies for online ticket purchases and concession payments by the end of 2021.
DOGE was not included in the list of cryptocurrencies at that time but later Aron held a poll on his Twitter to ask his following if AMC should explore accepting DOGE.
The results were overwhelmingly in favor of DOGE acceptance. Moreover, Aron noted that the poll was, by far, his most-read tweet ever.
Elon Musk, the CEO of $Tesla(TSLA.US)$ was among those that liked Aron’s tweet.
Price Action: On Tuesday, AMC shares closed nearly 0.8% higher at $37.06 in the regular session. In the after-hours session the shares declined by 0.16%.