US-based movie theater chain AMC Theaters has officially allowed payments in the popular meme-based cryptocurrency, Dogecoin. The transaction will be facilitated by Georgia, a US-based bitcoin payment service provider called Bitpay. People will be able to buy AMC gift cards with a maximum limit of $200 (approximately Rs 14,970). As these gift cards will be valid for use at other stores as well, this development will indirectly propel Dogecoin into many businesses. Cryptocurrency is cheap, allowing more people to buy and use gift cards.
Adam Aron, CEO of AMC Theaters, announced the news on Twitter on Wednesday, October 6. Since then, the value of dogecoin An increase of 5.59 percent. Elon Musk Backed Crypto Is Currently Business At $0.26 (about Rs.17).
Big news Dogecoin fans! As we work to accept crypto payments online, you can now buy @AMCTheatres Digital gift card (up to $200 per day) with Dogecoin and other cryptocurrencies using BitPay Wallet. Approved on our web site, mobile app and in cinemas. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8
— Adam Aaron (@CEOAdam) 5 October 2021
The post got Dogecoin supporters excited when they kept tweeting to Aaron asking him to start accepting Dogecoin payments. AMC Allows customers to buy movie tickets and take advantage of discounts via a variety of cryptocurrencies including Bitcoin Cash, Ethereum and Litecoin.
DOGECOIN IS HERE TO STAY!!! Would love to talk to you directly Adam about some big plans for Dogecoin. send me a dm.
— Matt Wallace (@MattWallace888) October 6, 2021
— Trey’s Magic Lamp (@slothlife10) October 6, 2021
Earlier in September, Aaron posted a poll on Twitter asking his 186,000 followers to help them make decisions about Dogecoin payments.
I sincerely want to hear your opinion through this Twitter poll. By the end of 2021, AMC will take bitcoin, ethereum, litecoin and bitcoin cash for online payments. I have heard from many people on my Twitter feed that we should accept Dogecoin as well. Do you think AMC should figure out accepting Dogecoin?
— Adam Aaron (@CEOAdam) September 21, 2021
At the time, not only did the majority of voters (68 percent) vote in favor of Dogecoin, but the post also caught the attention of the Tesla CEO. Elon Musk. Responding to a Twitter comment, Musk said that Dogecoin handling fees should be reduced to make everyday purchases “viable” for the average consumer.
It’s important to lower Doge’s fees to make things like buying movie ticks viable.
— Elon Musk (@elonmusk) September 22, 2021
crypto-payments The momentum has begun to pick up in some countries. For example, in Switzerland, cryptocurrency payments are now being accepted by over 85,000 merchants.
On April 21, WeWork, the popular office-sharing startup, said it would start accepting payments in select cryptocurrencies.
Indian trade body NASSCOM has recently Predicted That the crypto tech industry is on the way to a huge global expansion within the next five years. Its latest report estimates that the global crypto tech market will reach a value of $2.3 billion (approximately Rs 17,087 crore) by 2026.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.